The Bank of Japan on Tuesday again showed its resolve to curb higher Japanese government bond yields by launching yet another unscheduled bond buying operation.
The operations, which followed a rise in global yields overnight, were consistent with remarks by BOJ Governor Haruhiko Kuroda on Monday that the BOJ will not raise interest rates and will maintain easy policy to support economy.
The BOJ offered to buy JPY150 billion of JGBs with a remaining life of 5 to 10 years and JPY100 billion of JGBs with a remaining life of 10 to 25 years.
The 20-year bond yield rose to 1.01%, surpassing the 1% level for the first time since December 2015.
Upward pressure on JGB yields from a rise in bond yields overseas amid concern over higher inflationary pressure continue, which may possibly increase the scale of JGB buying by the BOJ.