G7 Expresses Concern over Rising Interest Rates

Paris, May 18 (Jiji Press)--Finance ministers and central bank chiefs from the Group of Seven major nations Monday agreed to closely monitor rising long-term interest rates in Japan, the United States and Europe amid concerns about inflation fueled by soaring energy prices due to tensions in the Middle East.

During Monday's discussions at a two-day meeting in Paris, the top financial officials also agreed to share information among member countries and draw up concrete measures against the risk of cyberattacks using cutting-edge artificial intelligence models.

Japan is represented by Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda.

"The situation in the Middle East has fueled global inflation concerns and caused bond prices to fall, with speculative moves being seen in financial markets," Katayama told reporters after the first day of discussions.

"It is important for the global economy to ensure free and safe navigation through the Strait of Hormuz, and we also agreed to closely monitor and respond to market conditions," she said.

[Copyright The Jiji Press, Ltd.]