MNI: BOJ Leaves Unchanged JGB Buying Frequency in February

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

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

frequency of its Japanese government bond purchases in February unchanged from

January, 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 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 February:

     The zones (amounts to be purchased in ranges)

     1 to 3 years (Y200-Y300 bln in Feb vs. Y200-Y300 bln in Jan)

     3 to 5 years (Y250-Y350 bln in Feb vs. Y250-Y350 bln in Jan)

     5 to 10 years (Y300-Y500 bln in Feb vs. Y300-Y500 bln in Jan)

     10 to 25 years (Y150-Y250 bln in Feb vs. Y150-250 bln in Jan)

     More than 25 years (Y50-Y150 bln in Feb vs. Y50-Y150 bln in Jan)

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

actuals in January).

     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

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

     Feb. 7: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Feb. 9: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years.

     Feb. 13: 5 to 10 years.

     Feb. 15: 1 to 3 years, 3 to 5 years, 5 to 10 year.

     Feb. 19: 10 to 25 years, more than 25 years.

     Feb. 21: 1 to 3 year, 3 to 5 years, 5 to 10 years.

     Feb. 23: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years

     Feb. 26: 5 to 10 years

     Feb. 28: 1 to 3 years, 3 to 5 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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