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MNI: BOJ Leaves Unchanged JGB Buying Frequency in July

--Also Leaves Unchanged Buying Plans for Each JGB Maturity Zone
     TOKYO (MNI) - The Bank of Japan said Friday it has decided to leave the
frequency of its Japanese government bond purchases in July unchanged from June,
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 July:
     The zones (amounts to be purchased in ranges)
     1 to 3 years (Y200-Y300 bln in July vs. Y200-Y300 bln in June)
     3 to 5 years (Y250-Y350 bln in July vs. Y250-Y350 bln in June)
     5 to 10 years (Y300-Y500 bln in July vs. Y300-Y500 bln in June)
     10 to 25 years (Y150-Y250 bln in July vs. Y150-250 bln in June)
     More than 25 years (Y50-Y150 bln in July vs. Y50-Y150 bln in June)
     The frequencies of operations in each zone in July (vs. plans and actuals
in June).
     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
     July 2: 10 to 25 years, more than 25 years.
     July 4: 1 to 3 years, 3 to 5 years, 5 to 10 years.
     July 6: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years
     July 11: 1 to 3 years, 3 to 5 years, 5 to 10 years.
     July 13: 5 to 10 years, 10 to 25 years, more than 25 years.
     July 17: 1 to 3 years, 3 to 5 years.
     July 19: 5 to 10 years, 10 to 25 years, more than 25 years.
     July 23: 1 to 3 years, 3 to 5 years.
     July 25: 5 to 10 years, 10 to 25 years, more than 25 years.
     July 27: 1 to 3 years, 3 to 5 years, 5 to 10 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
[TOPICS: MMJBJ$,M$A$$$,M$J$$$,M$$FI$,MN$FI$]

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