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MNI BRIEF: BOJ Ups JGB Buying Scale To Fight Higher Yields

(MNI) Tokyo

The Bank of Japan on Wednesday increased the scale of its extraordinary purchase of Japanese government bonds with a remaining life of five-10 years to JPY675 billion, up from its similar Sept. 29 JPY300 billion operation.

The larger amount illustrated the bank’s commitment to curb a rise in JGB yields following the rapid increase in U.S. Treasury yields.

The BOJ on Monday announced plans to conduct the extraordinary bond buying operation following the 10-year JGB yield rising to 0.775%, the highest level since September 2013.

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

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