(Update 2) Key 10-Yr JGB Yield Hits 16-Year High above 1.5 Pct

   Tokyo, March 6 (Jiji Press)--The benchmark 10-year Japanese government bond yield hit a 16-year high above 1.5 pct in Tokyo trading Thursday, amid persistent speculation that the Bank of Japan will continue to raise interest rates.
   The yield on the newest 377th 10-year JGB issue rose to 1.515 pct, the highest level since June 2009, from 1.435 pct late Wednesday.
   BOJ Deputy Governor Shinichi Uchida said in a speech Wednesday that the central bank will "continue to raise the policy interest rate and adjust the degree of monetary accommodation" if the economy and prices progress in line with the bank's projections.
   The BOJ's gradual tapering of its JGB purchases is "also a factor putting upward pressure on bond yields," an official at an asset management firm said.
   Thursday's rise also reflected a surge in German bond yields due to growing fiscal concerns in the European country, which is expected to need to bolster defense capabilities to support Ukraine, market sources said.

(2025/03/06-17:45)

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