Japan's bank lobby head warns of hit to economy from rising yields

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TOKYO - Japan's banking lobby head Masahiko Kato warned on Thursday further rises in long-term interest rates could hurt the economy as he spoke in the wake of an increase in the 10-year bond yield to a new decade high.

But if long-term rates see further sharp increases,"there's a chance economic activity could face downward pressure from rising interest payment for borrowing and a possible yen rebound that hurts exporters profits," said Kato, who is head of the Japanese Bankers Association.

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