Japan to raise FY2024/25 assumed interest rate after BOJ policy tweak -Kyodo

TOKYO: Japan's Ministry of Finance will raise its assumed long-term interest rate to 1.5% for the fiscal 2024/25 year from a record-low 1.1% this fiscal year, Kyodo news agency reported on Monday.

The upward revision to the rate, which is used to calculate debt interest payments for the annual state budget, is based on rising Japanese government bond yields after the Bank of Japan last month tweaked its ultra-easy monetary policy, Kyodo said.