Japan Key Long-Term Rate Hits 10-Year High of 0.77 Pct

The Bank of Japan building is pictured in Tokyo March 18, 2009.

Tokyo, Sept. 29 (Jiji Press)—The key 10-year Japanese government bond yield rose to 0.770 pct in Tokyo trading Friday, hitting its highest level since September 2013.

The 10-year JGB yield, regarded as the country’s benchmark long-term interest rate, has been rising recently as government bonds stay under strong selling pressure amid a global rise in interest rates brought on by higher crude oil prices.

Also behind the higher JGB yield was persistent speculation that the Bank of Japan will revise its monetary policy following the yen’s recent rapid depreciation, according to market sources.