Japan’s Long-Term Interest Rates Hit 27-Year High

TOKYO, Jan 19 (News On Japan) - Japan’s long-term interest rates continued to climb on growing concerns over worsening public finances, with the yield on the benchmark 10-year Japanese government bond rising above 2.2%, marking its highest level in roughly 27 years.

In the bond market on Tuesday, the 10-year government bond yield, a key indicator of long-term interest rates, rose to as high as 2.25%, its highest level since February 1999.

Bond selling has accelerated as reports say both ruling and opposition parties are considering including a consumption tax cut on food items in their campaign pledges ahead of the House of Representatives election, with voting expected on March 8th, raising fears of further fiscal deterioration.

Prime Minister Sanae Takaichi is expected to announce plans to dissolve the lower house at a press conference starting at 6 p.m. on Tuesday, and some market participants have warned that interest rates could rise further depending on what she says.

Source: TBS

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