TOKYO, Aug. 22 (Xinhua) -- The benchmark 10-year Japanese government bond (JGB) yield rose to 0.665 percent on Tuesday, hitting a more than nine-year high since January 2014 amid upward pressure in global interest rates.
The increasing yield raised the prospect that the Bank of Japan (BOJ) may come into the market with an unscheduled bond-buying operation to slow gains.
Japan's long-term interest rates have been edging up since late last month, when the central bank decided to adopt a more flexible approach to the yield curve.
At its monetary policy meeting in late July, the BOJ decided to modify its massive monetary easing policy, effectively raising the cap on 10-year JGB yields to 1 percent from 0.5 percent. ■
