Japan’s top financial official warns of risks to second-rate companies’ debt

TOKYO, Aug 2 (Reuters) – Japan’s top financial regulator on Tuesday warned of the risks to second-rate companies’ debt if the Bank of Japan (BOJ) raises interest rates, saying it could quickly deteriorate into a full-blown credit crunch..

Financial Services Agency (FSA) Commissioner Ryozo Himino’s comments come as the BOJ, alone among major central banks, remains committed to ultra-loose monetary policy even as many other central banks raise rates to tame surging inflation..

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