'Death of yields' puts countries at risk of 'Japanization'

Interest rates dip below 1% in half of world's major economies

Central banks in advanced economies are gobbling up government bonds.

KOJI OKUDA and MIO TOMITA, Nikkei staff writers

June 14, 2020 11:30 JST

TOKYO -- Where did interest rates go?

Until 2010, the only country that had yields lower than 1% for its government bonds was Japan. The low yield was interpreted as an anomaly; a unique country facing deflation with an aging population. However, lower interest rates are becoming a global phenomenon.