Japanese Finance Minister Satsuki Katayama called on market participants to calm down after an intense day of bond selling pushed up long-term government debt yields to the highest levels in decades with ripples reaching other global markets. Katayama says that since last October, Japan’s fiscal policy has consistently been responsible and sustainable, not expansionary, during an interview with Bloomberg’s Haslinda Amin on the sidelines of the World Economic Forum in Davos, Switzerland. (Japanese with English translation.)
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