Japan expects higher debt costs in FY 2024 after BOJ policy tweak

The Finance Ministry expects a higher interest rate will increase debt-servicing costs for fiscal 2024, reflecting rising long-term government bond yields following a recent policy tweak by the Bank of Japan, sources familiar with the matter said Monday. The assumed interest rate, used in calculating the costs in a state budget, will likely be set at 1.5 percent for the year starting next April, up from 1.1 percent in recent years, the sources said. Government ministries and agencies are required to submit their budgetary requests by the end of August and the Finance Ministry is expected to an...