Nakayama, Takashi; Baba, Naohiko; Kurihara, Tatsushi - Bank of Japan - 2004
Interest rates on Japanese government bonds (JGBs) fluctuated widely in 2003. The interest rate on 10-year JGBs gradually declined from the beginning of 2003, reaching the mid 0.4% range in June. But then, interest rates rose sharply (i) from late June to early July and (ii) from late August to...
