December 7, 2016 / 6:39 AM / a year ago

BOJ's Iwata: No need to respond to recent Japan yield rises

NAGASAKI, Japan (Reuters) - Bank of Japan Deputy Governor Kikuo Iwata said on Wednesday recent rises in Japan’s long-term interest rates were acceptable as they did not hurt the economy’s momentum towards achievement of the central bank’s 2 percent inflation target.

“If long-term interest rates were to rise, what’s important is the speed of rises and the factors behind the move,” Iwata told reporters after meeting business leaders in Nagasaki, southern Japan.

“If such market moves hurt the economy’s momentum toward achieving 2 percent inflation, we may need to push down long-term interest rates,” he said.

Reporting by Leika Kihara; Editing by Chris Gallagher

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