Japan’s 10-year government bond yield eased to around 1.62% on Thursday as investors weighed both monetary policy and political developments. The yield had touched a 17-year high on Wednesday after Bank of Japan Governor Kazuo Ueda reiterated that the bank’s stance on rate hikes remains intact if growth and inflation unfold as expected. Attention now turns to Friday’s wage data for further policy signals. On the political front, ruling party secretary general Hiroshi Moriyama, a close ally of Prime Minister Shigeru Ishiba, announced his resignation, heightening speculation about Ishiba’s future as pressure grows following an election setback. Among possible successors, Sanae Takaichi is seen as supportive of maintaining low interest rates.
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