Ueda's Remarks... Japan 10-Year Government Bond Yield Hits Highest in 9 Years and 8 Months
Kazuo Ueda, BOJ Governor
Hints at Shift in Monetary Policy Direction
Japan's 10-year government bond yield rose on the 11th to its highest level in about 9 years and 8 months.
On that day, in the Tokyo bond market, the yield on newly issued 10-year government bonds by the Japanese government temporarily rose to 0.695% during trading, marking the highest level since January 2014.
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023042813404215505_1682656842.jpg)
This is analyzed to be the result of BOJ Governor Kazuo Ueda's mention of lifting the 'negative (-) interest rate.' Earlier, in an interview with the Yomiuri Shimbun released on the 9th, Governor Ueda stated, "When we reach a stage where we can be confident in sustained inflation accompanied by wage increases, lifting the negative interest rate, which is a core part of large-scale monetary easing policy, could be one of several options."
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Previously, at the Monetary Policy Meeting in July, the BOJ kept the short-term interest rate at -0.1% and effectively raised the upper limit for the 10-year government bond yield, which it purchases without limit, from the previous 0.5% to about 1.0%.
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