The Bank of Japan (BOJ)'s market operations report for fiscal year 2025, released today, indicates a significant rise in long-term interest rates for FY2025, reaching a range of 2.35-2.40% by the end of March 2026, the highest level since February 1999. This is primarily attributed to the Bank of Japan (BOJ)'s policy rate hike, increased market expectations for future policy rates, and vigilance against inflation, especially amid rising crude oil prices due to tensions in the Middle East.