Market participants generally expect the benchmark 10-year Japanese government bond yield to continue to gradually rise next year, but the extent of the increase will depend on whether the Bank of Japan can successfully raise interest rates. Many economists predict that the Bank of Japan will raise interest rates twice in 2025. This may help the 10-year Japanese bond yield exceed this year's high of 1.1%, with some predicting it will rise to 1.5% for the first time since 2009. The yield is currently around 1.075%. Other Analysts predict that the Bank of Japan may only be able to raise interest rates once next year. The policy of the incoming Trump administration in January will be key, as stimulative economic policies may accelerate inflation in the USA, while his tariff threats may weigh down global economic growth.