Editorial

16:06 JST, June 27, 2025

Interest rates on super-long government bonds are climbing. This is probably because the increase in government bond issuance due to deteriorating fiscal conditions is causing a rising sense of caution among more investors who believe it is difficult for them to purchase such bonds.

In order to attempt to stabilize the government bond market and ensure smooth borrowing, it is important for the government to work on fiscal consolidation. The Bank of Japan also needs to make efforts to manage its policies with market stability in mind.

On June 23, the Finance Ministry revised its government bond issuance plan for this fiscal year. The issuance of super-long government bonds with maturity terms of 20, 30 and 40 years will be reduced by ¥3.2 trillion to a total of ¥21.4 trillion.

The government bond issuance plan is........

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