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MNI BRIEF: BOJ Offers Extraordinary JGB Buying Operations

(MNI) Tokyo

The Bank of Japan on Wednesday conducted extraordinary bond buying operations to address the rise in Japanese government bond yields as the 10-year JGB yield rose to 0.815% for the highest level in 10 years and two months.

The BOJ offered to buy JPY300 billion of JGBs with a remaining life of five-10 years and JPY100 billion of JGBs with a remaining life of 10-25 years.

The extraordinary JGB buying operation is the first since Sept. 29. The BOJ announced it would conduct additional bond buying on Oct. 2.

Market players speculate the BOJ may raise the 10-year interest rate cap from 1.0% this month.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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