The year-to-year rises in consumer prices (nationwide, excluding perishables) are widening somewhat, albeit by a small margin. Changes in commercial land prices have varied by type, and residential land prices have virtually stopped declining. 2. In the financial markets, the overnight call rate (uncollateralized) stayed slightly below the official discount rate of 0.5 per cent.
The long-term government bond yield rebounded to near 2.7 per cent in late May, as market uncertainties about the economic outlook and the Japanese financial system gradually subsided after the second half of April. However, it declined to around 2.2 - 2.3 per cent.