Japan's free spending nears end as BOJ shifts ultraloose policy

Rising rates to force government to face its towering debt

20221223N yen

Japan has been able to spend freely under the Bank of Japan's ultraloose monetary policy.  © Reuters

TOMOHIRO EBUCHI and MARI ISHIBASHI, Nikkei staff writers

TOKYO -- After years of heavy government spending fueled by easy money, the Bank of Japan's surprise policy shift is threatening to raise borrowing costs, forcing Japan to finally face its tattered fiscal health.

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