TOKYO -- Japan's Finance Ministry will raise the assumed interest rate paid on bonds in the government's annual budget proposal for the first time in 17 years in fiscal 2024, reflecting policy shifts by the Bank of Japan that have allowed yields to rise.
Economy
Japan to lift assumed rate for debt-servicing for 1st time in 17 years
Fiscal 2024 budget request reflects BOJ's policy to let bond yields rise
The Japanese government's fiscal 2024 budget request contains an 11% increase in debt servicing costs from the initial fiscal 2023 budget. © Reuters
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