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SHIZUOKA (Kyodo) The massive issuance of state bonds to fund the government’s economic stimulus program could lead to a rise in long-term interest rates, Bank of Japan Policy Board member Hidetoshi Kamezaki warned Wednesday.

In a speech to local business leaders in Shizuoka, Kamezaki said the economy is no longer in free fall and is likely to head for a mild recovery soon thanks to a slowdown in production cuts and the government’s stimulus measures. But there remains “great uncertainty” over the future prospects, he added.

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