Prime Minister Shinzo Abe said Tuesday his government’s economic policy management will not be affected by a rating downgrade by Moody’s Investors Service on Japanese government bonds the previous day.
Speaking on television, Abe said financial markets reacted calmly to Moody’s decision to lower its credit rating on JGBs by one notch to A1 from Aa3.
In late interdealer trading in cash JGBs on Tuesday, the yield on the key 335th 10-year issue with a 0.5 percent coupon stood at 0.415 percent, down from 0.430 percent late Monday. On the Tokyo Stock Exchange, the benchmark 225-issue Nikkei average hit a new seven-year closing high.
Abe said he believes international trust in the national economy remains high, adding his economic policy mix, known as Abenomics, is supported abroad.Speech
via Japan News
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