Japan's economy minister warns of negative impact from rise in yields

Japan's Economic Revitalisation Minister, Ryosei Akazawa, said on Wednesday sharp rises in Japanese government bond yields could have an undesirable impact on the economy.

"If interest rates rise sharply, that could increase the cost of financing Japan's debt," which is already at high levels in debt-to-GDP terms, Akazawa told a news conference.

"It could also hurt the economy" through an increase in mortgage rates and corporate borrowing costs, he added.