TOKYO : A future Bank of Japan (BOJ) interest rate hike could affect the country's sovereign debt rating if firms struggle to absorb rising funding costs, an official at S&P Global Ratings said on Thursday.Higher borrowing costs could also lead to a downturn in long-term economic growth, S&P said.J
TOKYO : A future Bank of Japan interest rate hike could affect the country's sovereign debt rating if firms struggle to absorb rising funding costs, an official at S&P Global Ratings said on Thursday.Japanese bond yields have crept up on market expectations the BOJ will phase out its yield control policy and start raising interest rates under a new governor who succeeds incumbent Haruhiko Kuroda in April.
The bigger concern is whether Japanese firms, accustomed to many years of ultra-low interest rates, could absorb higher funding costs that come from tighter monetary policy, he told Reuters in an interview. But the longer-term effect on Japanese firms and the broader economy is a concern as"we're now at a stage where interest rates seem to be rising, and there's quite a bit of uncertainty about how far it will go before it stabilises again," he said.
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