Fukui says rate rises reflect changing price trend

The recent surge in Japanese long-term interest rates reflects the changing trend of prices, but deflationary pressures remain within the Japanese economy, said Bank of Japan Governor Toshihiko Fukui, according to Kyodo News.

"The direction of price moves has gradually been changing globally and that has just begun to be factored into the (domestic) market," Kyodo quoted Fukui as telling the House of Representatives Financial Affairs Committee.

Fukui was commenting on the rise in domestic interest

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