Bank of Japan policy board member Hidetoshi Kamezaki on Wednesday warned that huge bond issuance to fund government stimulus measures taken across the globe could push up interest
rates. Global bond yields have climbed over the past few weeks partly on concerns about the financial markets' ability to digest a huge wave of debt issuance to pay for government stimulus packages.
But analysts say the yield rise is unlikely to spur the Bank of Japan to further action.
"I think he had mainly U.S. markets in mind," said Naomi Hasegawa, senior strategist at Mitsubishi UFJ Securities. "I doubt the BOJ will do something now even if the 10-year bond yield rises a bit from current levels around 1.5 percent."
