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's 0.5% cap on the 10-year bond yield, as inflation runs at 41-year highs, double the central bank's 2% target.
Market showed little reaction to Suzuki's speech, in which he explained the details of the coming fiscal year's state budget worth a record 114.4 trillion yen . "The government will strive to stably manage Japanese government bond issuance through close communication with the market," he said.
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