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TOKYO (MNI) - The Bank of Japan on Tuesday offered to buy JPY500 billion of
JGBs under repurchase agreements for a second straight day following Monday's
first "gensaki" operation since March 2016.
The operation is aimed at emphasizing the BOJ stance to stabilize financial
markets via "ample fund injection and asset purchases", as outlined in a
statement by BOJ Governor Haruhiko Kuroda on Monday.
The BOJ Tuesday announced the operation at 0930 JST (0030 GMT), which was
earlier than Monday when the bank announced its operation at 1000 JST (0100 GMT)
following Kuroda's statement.
Kuroda's statement Monday said "Global financial and capital markets have
been unstable recently with growing uncertainties about the outlook for economic
activity due to the spread of the novel coronavirus."
"The Bank of Japan will closely monitor future developments, and will
strive to provide ample liquidity and ensure stability in financial markets
through appropriate market operations and asset purchases," he added.
Kuroda didn't state his routine remark that the BOJ will not hesitate to
take appropriate action, with is seen by some as indicating the bank sees no
need to deepen the negative interest rate from -0.10% amid the absence of a
sharp yen rise.
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