Doha: Japan’s benchmark 10-year government bond yield climbed to its highest level in 17 years on Monday as investors speculated the Bank of Japan (BOJ) may move closer to raising interest rates.

According to Qatar News Agency, the 10-year yield briefly rose to 1.66%, its highest since July 2008.

The move followed last week’s BOJ policy meeting, where two of the nine board members voted in favor of raising the key policy rate, though the majority opted to keep it unchanged.