Japan's 10-year government bond yield hits 2% for the first time since 2006

TechFlow, on December 19, Japan's 10-year government bond yield broke above 2% for the first time since 2006, after the Bank of Japan raised its benchmark interest rate to the highest level in 30 years. Japanese government bond yields have recently climbed to multi-year highs amid renewed fiscal concerns and rising expectations of further rate hikes. Bets on tighter monetary policy by the central bank have intensified following clear hints of action from BOJ Governor Kazuo Ueda. Prime Minister Shigeru Ishiba's government is seen as willing to tolerate higher interest rates, and Japan's Chief Cabinet Secretary said earlier this week that specific details of monetary policy should be decided by the central bank. (Gold 10)