Japan's Long-Term Interest Rates Rise to 30-Year High
Listen to the story
Japan's long-term interest rate has gone up. It is now at its highest level in about 30 years.
People think the Bank of Japan will raise rates soon. This is one reason for the change. People are also worried about the government's money problems.
Some experts say the rate could go higher than 3%. They say 3% is not the end point.
On the stock market, the TOPIX index fell on the 17th. This was its first fall in nine days. Prices went down after early buying stopped.
Vocabulary6 words
- long-term interest rate
- the cost of borrowing money for many years
- Bank of Japan
- the bank that controls Japan's money
- TOPIX
- a list of numbers that shows how Japanese stocks are doing
- rate hike
- when a bank makes interest rates go up
- government finances
- money that a government has and spends
- stock market
- a place where people buy and sell parts of companies
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Quiz
Answer key
1. It has gone up to a 30-year high 2. Government money problems 3. It fell after nine days of rising
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Japan's _____ interest rate has gone up. It is now at its highest level in about 30 _____.
People think the _____ will raise rates soon. This is one reason for the change. People are also worried about the government's money _____.
Some experts say the rate could go higher than _____%. They say 3% is not the end point.
On the stock market, the _____ index fell on the 17th. This was its first fall in nine _____. Prices went down after early buying stopped.
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