TOKYO - Bank of Japan chief Kazuo Ueda said Friday that Japanese government bond yields have been rising at a "very rapid pace" in recent trading and reiterated the central bank's readiness to step up bond-buying operations in "exceptional cases" to ensure market stability.

At a news conference after the central bank kept its policy rate unchanged, Ueda said the BOJ and the government will communicate closely and play their respective roles to address the situation in the bond market.

Related coverage:
Japan inflation rate at 2.4% in Dec. on food costs, above BOJ target
BOJ maintains economic views of all 9 regions as U.S. tariff impact eases
Japan's ruling LDP renews push for aggressive fiscal stance for election