Finance Minister Satsuki Katayama, currently visiting the United States, said on the 1st that Japan's long-term interest rates have risen to the 3% range for the first time in 30 years, and that the government will continue dialogue with the market, adding that it will "continue to balance a strong economy and fiscal sustainability." She made the remarks to reporters before heading to the discussions at the Group of 20 (G20) finance ministers and central bank governors meeting in North Carolina. On the same day, in the Tokyo yen bond market, the yield on the benchmark 10-year new bond, an indicator of long-term rates, briefly reached 3.00%, a 30-year high. Prime Minister Sanae Takaichi, responding to reporters in the evening Japan time, said that interest rates are determined by the market against a backdrop of various factors, including the policy situations of other countries, and that as prime minister she would refrain from specific comments.
Long-term rates hit 3% for first time in 30 years, indicating rising yields.
