Japan should respond forcefully to excessive market fluctuations, including by buying back government bonds or cutting issuance of super-long notes, Yuichiro Tamaki, leader of the Democratic Party for the People (DPP), told Reuters on Wednesday.

“Market volatility is intensifying significantly, with some abnormal movements emerging,” Tamaki said in an interview when asked about the recent sharp selloff in Japanese government bonds (JGBs).

He argued that both the government and the Bank of Japan need to act decisively to counter disorderly market conditions and restore confidence. Beyond sending a strong signal to investors, Tamaki said policymakers could consider measures such as bond buybacks or scaling back issuance of 40-year JGBs to ease pressure at the long end of the yield curve.

Although smaller than the newly formed opposition coalition, the DPP maintains a meaningful presence in parliament and holds a pivotal role in shaping key legislation and influencing the ruling coalition’s economic and fiscal policy decisions.