Posted on 01/23/2023 10:56:25 AM PST by millenial4freedom
TOKYO (Reuters) - Japan's finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt.
The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan's (BOJ) 0.5% cap on the 10-year bond yield, as inflation runs at 41-year highs, double the central bank's 2% target.
"Japan's public finances have increased in severity to an unprecedented degree as we have compiled supplementary budgets to respond to the coronavirus and similar issues," Suzuki said in a policy speech starting a session of parliament.
(Excerpt) Read more at finance.yahoo.com ...
[TOKYO (Reuters) - Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt.]
We could send over Chuck Schumer and Nancy Pelosi. They always have a solution: Spend, spend, spend, spend, spend.
BUT you have to keep them.
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