Japan's Kan: Important To Maintain Market Confidence

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Wednesday, Japan's Finance Minister Naoto Kan said it is important to maintain investor confidence to stop a rise in the country's long-term interest rates.

A rise in the country's long-term interest rates may cause major impacts on the country's finances. Kan's remarks came a day after rating agency Standard & Poor's cut its outlook on the Japanese long-term rating to negative from stable, citing diminishing fiscal flexibility.

"We need to keep yields relatively near current levels by maintaining market trust," Kan told lawmakers in Tokyo.

(Market News Provided by RTTNews)