BOJ Leaves Unchanged JGB Buying Frequency in November

--Also Leaves Unchanged Buying Plans for Each JGB Maturity Zone

     TOKYO (MNI) - The Bank of Japan said Tuesday it has decided to leave the

frequency of its Japanese government bond purchases in November unchanged from

October, indicating there is no need to guide any particular bond yields higher

or lower.

     The BOJ also left unchanged its purchase plans for each JGB maturity zone.

     Under its yield curve control policy framework, the BOJ is seeking to

stabilize the 10-year government bond yield, the benchmark for long-term

borrowing costs, "around zero percent" and keep the overnight interest rate at

-0.1%.

     The BOJ also said Tuesday that it may announce additional JGB buying

operations, depending on market conditions.

     The BOJ refrains from conducting JGB buying operations on days when the

Ministry of Finance auctions JGBs and the BOJ board holds policy meetings.

     The planned JGB purchase operations in November:

     The zones (amounts to be purchased in ranges)

     1 to 3 years (Y200-Y300 bln in Nov vs. Y200-Y300 bln in Oct)

     3 to 5 years (Y250-Y350 bln in Nov vs. Y250-Y350 bln in Oct)

     5 to 10 years (Y300-Y500 bln in Nov vs. Y300-Y500 bln in Oct)

     10 to 25 years (Y150-Y250 bln in Nov vs. Y150-250 bln in Oct)

     More than 25 years (Y50-Y150 bln in Nov vs. Y50-Y150 bln in Oct)

     The frequencies of operations in each zone in November (vs. plans and

actuals in October)

     1 to 3 years: 6 times (6 times)

     3 to 5 years: 6 times (6 times)

     5 to 10 years: 6 times (6 times)

     10 to 25 years: 5 times (5 times)

     More than 25 years: 5 times (5 times)

     The dates of operations

     Nov. 2: 5 to 10 years, 10 to 25 years, more than 25 years.

     Nov. 6: 1 to 3 years, 3 to 5 years.

     Nov. 8: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Nov. 10: 5 to 10 years, 10 to 25 years, more than 25 years.

     Nov. 15: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Nov. 17: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years.

     Nov. 22: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Nov. 24: 10 to 25 years, more than 25 years.

     Nov. 27: 1 to 3 years, 3 to 5 years.

     Nov. 29: 5 to 10 years, 10 to 25 years, more than 25 years.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com

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