長期金利が約30年ぶりの高い水準に上昇

Welcome to Japanese Daily News. I'm Maya. Today is August nineteenth. Japan's long-term interest rate has climbed to its highest level in about thirty years. Let's listen.

Now let's break it down, sentence by sentence.

In the bond market on the eighteenth, selling of Japanese government bonds intensified, and the long-term interest rate rose.

It means interest rate.

A government bond is a security the government issues in order to borrow money.

It means government bond.

On the eighteenth, this long-term rate temporarily rose to two point nine four five percent.

It means temporarily, or at one point.

That is the highest level in about thirty years, since September of nineteen ninety-six.

It means level.

The situation in the Middle East has not settled and crude oil prices are rising, so prices are expected to climb further.

It means crude oil.

Worries about Japan's public finances, and expectations that the Bank of Japan will keep raising rates, also pushed interest rates up.

It means a rate hike — raising interest rates.

The long-term rate is the benchmark for fixed-rate mortgages and for the rates companies pay to borrow money.

It means home loan, or mortgage.

Because of this, if rates keep rising, the burden on home buyers and companies could grow heavier.

It means burden.

On the other hand, for people who keep money in the bank, there is a bright side: deposit rates may go up.

It means to deposit, or to leave something in someone's care.

Let's listen to the whole story one more time.

Time for a short quiz. Listen and try to answer.

Two point nine four five percent — the highest in about thirty years.

The view that inflation will continue, partly because of rising crude oil prices.

Fixed-rate mortgages, and the rates companies pay to borrow money.

That's all for today. Interest rates touch everything from home loans to savings accounts, so this thirty-year milestone matters for everyday life in Japan. See you next time on Japanese Daily News.