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Free AccessMNI 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$$$,M$J$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.