Japanese Prime Minister Kishi requested the central bank to increase bond purchases when necessary to curb the rising yield trend.

On Tuesday, Japan's Jiji Press reported that Prime Minister Sanae Takaichi requested Bank of Japan Governor Kazuo Ueda to increase government bond purchases when necessary to curb the rise in long-term interest rates during their meeting in May. According to several unnamed sources cited by Jiji Press, Takaichi urged Ueda to take "appropriate measures to stabilize the market" and increase the purchasing volume of government bonds when needed. Jiji Press stated that Ueda responded by saying that the Bank of Japan needs to consider the potential market reactions to such measures, but the central bank will respond as necessary. The Japanese government did not immediately respond to a request for comment.