“Japan Finance Minister warns of severe finances as BOJ struggles to contain yields”

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TOKYO (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt.

The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan’s (BOJ) 0.5% cap on the 10-year bond yield, as inflation runs at 41-year highs, double the central bank’s 2% target.

“Japan’s public finances have increased in severity to an unprecedented degree as we have compiled supplementary budgets to respond to the coronavirus and similar issues,” Suzuki said in a policy speech starting a session of parliament.

www.investing.com/news/economy/japan-finance-minister-warns-of-severe-finances-as-boj-struggles-to-contain-yields-2985430


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Published at Mon, 23 Jan 2023 20:23:52 +0000

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