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MNI BRIEF: BOJ To Buy No. 356 JGBs At 0.25% Thursday, Friday

(MNI) Tokyo
TOKYO (MNI)

The Bank of Japan said on Wednesday that the bank will buy the cheapest No. 356 10-year Japanese government bonds without limit at a fixed-rate of 0.25% on Thursday and Friday.

The decision is aimed at curbing the rise in the No. 356 bond yield as such a move will increase upward pressure on JGB yields broadly. Earlier in the day, the BOJ conducted an unlimited purchase of the No. 356 10-year government bond at a fixed-rate of 0.25% to prevent the yield curve from distorting as it also continued operations for the unlimited purchase of the No. 366 10-year bond, the benchmark instrument, (See: MNI STATE OF PLAY: BOJ To Stay Easy Despite Weak Yen, Yields).

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The Bank of Japan said on Wednesday that the bank will buy the cheapest No. 356 10-year Japanese government bonds without limit at a fixed-rate of 0.25% on Thursday and Friday.

The decision is aimed at curbing the rise in the No. 356 bond yield as such a move will increase upward pressure on JGB yields broadly. Earlier in the day, the BOJ conducted an unlimited purchase of the No. 356 10-year government bond at a fixed-rate of 0.25% to prevent the yield curve from distorting as it also continued operations for the unlimited purchase of the No. 366 10-year bond, the benchmark instrument, (See: MNI STATE OF PLAY: BOJ To Stay Easy Despite Weak Yen, Yields).