The yield on Japan's 10-year government bond, a key indicator of the country's long-term interest rates, climbed to 1.9 percent on Thursday, marking its highest level since July 2007.
According to local media, as the market expects the Bank of Japan to continue raising rates in stages, government bonds were sold off, leading to a rise in long-term interest rates.
At present, the market expects about an 80 percent probability that the Bank of Japan will decide to raise interest rates at its meeting on Dec 19, whereas two weeks ago the probability of a December hike was only 30 percent.
With government bonds yielding higher interest rates, Japan faces escalating interest payments that could strain public finances and divert resources from essential social services. The International Monetary Fund has projected that Japan's deficit will rise to 4.4 percent of gross domestic product by 2030.
Japan’s 10-year gov't bond yield hits highest level since mid-2007
Palestinian President Mahmoud Abbas on Thursday expressed his sincere gratitude and appreciation for Chinese President Xi Jinping's announcement that China would provide 100 million U.S. dollars in aid to Palestine, aiming to alleviate the humanitarian crisis and support the early recovery and reconstruction plan for Gaza.
Abbas emphasized that this generous donation reflects the solid friendship between the two countries and their people, as well as China's commitment to justice and fairness. It also demonstrates the care and support of the Chinese leadership for the Palestinian people, and China's commitment to strengthening the strategic partnership and cooperation between the two countries to benefit the people of both countries and promote regional peace and stability.
Abbas also thanked China for its support for Palestine on international occasions and emphasized that Palestine is willing to continue to work together with China to achieve just and comprehensive peace based on international law.
Palestinian president thanks Xi for humanitarian aid
