The coupon rate -- the interest rate stated on bonds at their issuance -- dropped 0.1 percentage point from the previous month to the latest level, the ministry said. Interest rates move inversely to bond prices.
In an auction held later Tuesday, the No. 335 issue of benchmark long-term bonds drew
Demand for the Japanese government debt has been robust as the central bank has pledged to buy a large amount of government bonds every month, aiming to keep longer-term interest rates low to stimulate business and investment activities.
The 10-year interest rate is the benchmark rate that financial institutions use to lend to their customers, such as companies and home buyers.
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