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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
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Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
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Free AccessMNI: BOJ Cuts Buying of Longer-End JGBs To Curb Lower Rates
TOKYO (MNI) - The Bank of Japan moved on Tuesday to lower the scale of its
purchases of longer-end government bonds, such as those with a remaining life of
10 to 25 years, to curb lower yields.
The scale of bond purchases was lowered to Y100 billion from Y120 billion
in a similar move on Oct. 30, but the scale of purchases of JGBs with a
remaining life of more than 25 years was left at Y30 billion.
The decision was expected by some bond players, as BOJ Governor Haruhiko
Kuroda has said that the BOJ doesn't want to lower the super long-term interest
rates.
He warned that lower rates will erode investment returns from longer-end
bonds issued by life insurance firms and pension funds, which in turn will
undermine consumer sentiment.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: MMJBJ$,M$A$$$,M$J$$$,M$$FI$,MN$FI$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.