Japan prime minister Ishiba says government is taking issue of rising prices seriously ...Middle East

Government making utmost efforts to overcome rising pricesCannot agree on call to reduce consumption tax rateIt will take a long time to adjust system for lower consumption tax rate on foodIt is not true that government is mulling providing cash handoutsSharp rises in JGB yields have undesirable impact on economy, fiscal situation (Akazawa)Government's stance is to promote increase in domestic investors for JGBs (Akazawa)If interest rates rise sharply, that could increase Japan's debt financing costs (Akazawa)

I guess that kills off the report from earlier this week here. The other remarks are nothing major but it paints the picture that amid the surge in long-end JGB yields, the government's fiscal situation is under heavy scrutiny. And that puts the BOJ in a bit of a tough spot to raise rates further again.

This article was written by Justin Low at www.forexlive.com.

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