MNI POLICY: BOJ Leaves JGB Buying Frequency Unchanged in Nov

--BOJ Keeps Scale of All JGB Buying in November

     TOKYO (MNI) - The Bank of Japan said on Thursday it has decided to leave

the scale and frequency of its bond buying operations unchanged in November.

     While the decisions were expected by JGB players as bond yields are moving

stably, the central bank added it may increase the frequency as needed.

     It also said that the bank will conduct purchases in a flexible manner,

taking account of market conditions, aiming to achieve the target level of a

long-term interest rate specified by the guideline for market operations.

     The BOJ's schedule sees it refrain from conducting JGB buying operations on

days when the Ministry of Finance holds auctions for JGBs or the BOJ board holds

policy meetings.

     --CALENDAR

     The planned JGB purchase operations in November:

     The zones (amounts to be purchased in ranges)

     --1 to 3 years (Y300-Y550 bln in Nov. vs. Y300-Y550 bln in Oct.)

     --3 to 5 years (Y200-Y450 bln in Nov. vs. Y200-Y450 bln in Oct.)

     --5 to 10 years (Y200-Y500 bln in Nov. vs. Y200-Y500 bln in Oct.)

     --10 to 25 years (Y50-Y200 bln in Nov. vs. Y50-Y200 bln in Oct.)

     --More than 25 years (zero-Y50 bln in Nov. vs. zero-Y50 bln in Oct.)

     The frequencies of operations in each zone in Nov. plans vs Oct. actual.

     --1 to 3 years: 4 times (4 times)

     --3 to 5 years: 4 times (4 times)

     --5 to 10 years: 4 times (4 times)

     --10 to 25 years: 3 times (3 times)

     --More than 25 years: 3 times (3 times)

     The dates of operations

Nov. 1: 5 to 10 years.

     Nov. 5: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years.

     Nov. 11: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Nov. 15: 10 to 25 years, more than 25 years.

     Nov. 19: 1 to 3 years, 3 to 5 years, 5 to 10 years.

     Nov. 25: 1 to 3 years, 3 to 5 years, 10 to 25 years, more than 25 years.

     Nov. 27: 10 to 25 years.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

[TOPICS: MAJDS$,MMJBJ$,M$A$$$,M$J$$$]