Japan’s Kato Denies Extra Budget Plan Amid Bond Yield Surge (1)

Japanese Finance Minister ruled out the idea of compiling an extra budget, pushing back against market speculation that has driven up the nation’s government bond yields.

“We are not considering special economic measures or a supplementary budget at this time,” Finance Minister Katsunobu Kato told reporters on Tuesday, echoing Prime Minister Shigeru Ishiba’s remarks from the previous day. “We will first steadily implement the extra budget for the previous fiscal year and the initial budget for the current year,” he said.

Katsunobu Kato in January.

Photographer: Kiyoshi Ota/Bloomberg

Kato’s comments came as Japan’s super-long government bond yields surged, partly fueled by speculation that authorities ...