Japan's Prime Minister Sanae Takaichi reportedly urged Bank of Japan Governor Kazuo Ueda during a meeting in May to purchase Japanese government bonds if necessary to curb rising long-term interest rates.
Takaichi Sought Bond Purchases to Stabilize Markets During a 20-minute meeting at the Prime Minister's Office on May 22, Takaichi asked Ueda to ensure monetary policy aligned with her government's economic agenda and to buy Japanese government bonds if needed to maintain market stability, The Japan Times reported.
According to the sources cited in the report, Ueda said any action would depend on market conditions and that the BOJ would respond if necessary.
Japan's debt-to-GDP ratio currently stands at 248.7%, the highest in the world.
The prime minister's office and the Bank of Japan did not immediately respond to Benzinga's request for comment.
