It's very symbolic. It indicates that monetary policy is back to normal and investors are discounting possible future rate hikes.
More Quotes from Susumu Kato:
With the data showing a 0.5 percent rise, the BOJ could take a step forward to shifting the policy without hesitation.Susumu Kato
It's not a good time to hold bonds. Relative to economic fundamentals yields are too low.
Susumu Kato
Longer bonds will stay solid as inflation expectations won't grow significantly soon while shorter debt is difficult to buy amid speculation about a rate hike. The yield curve may flatten a bit more.
Susumu Kato
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