Tokyo: The yield on the benchmark 10-year Japanese government bond hit 1.500 percent Thursday for the first time since June 2009 amid speculation the Bank of Japan (BOJ) will further raise interest rates.
According to Qatar News Agency, the increase in the key barometer of long-term interest rates came after BOJ Deputy Governor Shinichi Uchida said Wednesday that the central bank intends to continue tightening monetary policy if the economy and prices move in line with projections.
The key yield briefly climbed 0.060 percentage point from Wednesday’s close.
In January, the BOJ raised its policy interest rate to 0.5 percent from 0.25 percent, its highest level in about 17 years, with expectations that wage hikes will be robust after this year’s annual labor-management negotiations.