Japan’s Key Long-Term Interest Rate Hits New 30-Year High

Tokyo, Sept. 2 (Jiji Press)–Japan’s benchmark 10-year government bond yield, regarded as the country’s key long-term interest rate, briefly rose to a new 30-year high of 3.015 pct in Tokyo trading on Wednesday amid concern over rising inflation in the United States. A rise in U.S. long-term interest rates triggered by higher oil prices following a new round of attacks between the United States and Iran sent Japanese bond yields climbing. Rising oil prices and long-term interest rates drove Japanese stocks lower on a broad front. The benchmark Nikkei 225 stock index fell 1,889.70 points, or 2.85 pct, to close at 64,325.64. “Stocks fell across the board due to higher oil prices amid the aggravated Middle East situation and rising long-term interest rates,” an asset management firm official said. END [Copyright The Jiji Press, Ltd.]