BOJ prepares emergency operation as long-term rates creep up

Central bank plans unlimited bond purchases after benchmark yield hits 6-year high

20220205N BOJ

The Bank of Japan will likely step in if the benchmark 10-year yield moves closer to its 0.25% cap. (Photo by Rie Ishii) 

TATSUYA GOTO, Nikkei staff writer

TOKYO -- Upward pressure driving U.S. and European interest rates higher has reached Japan, with the benchmark 10-year yield nearing the threshold that could prompt the Bank of Japan to step in with an emergency market operation.

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