TOKYO (Dow Jones)--Lending by Japanese banks fell 4.6% from a year earlier in January, a sharper pace of decline than the 4.3% drop recorded in December, the Bank of Japan said Friday. The latest fall extended the length of consecutive declines to 49 months, reflecting continued weak demand from the private sector and suggesting the BOJ's easy monetary policy has had a limited impact. Outstanding loans by Japanese banks as of January totaled Y439.47 trillion, the BOJ said.