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Repeats Story Initially Transmitted at 01:37 GMT Sep 1/21:37 EST Aug 31
     TOKYO (MNI) - The Bank of Japan on Friday reduced the scale of its
purchases of Japanese government bonds with a remaining life of 3- to 5-years to
Y300 billion from Y330 billion at the previous similar operation on Monday.
     The move, which was expected by some market participants, is aimed at
curbing the recent drop in medium-term JGB yields. The yield on 5-year JGBs fell
to -0.145% on Thursday, the lowest level since May 10.
     After the operation, the 5-year bonds yield remained unchanged at -0.145%.
     On July 12, the BOJ increased the scale of its purchase of medium-term
bonds to Y330 billion from Y300 billion to stop the yields from rising rapidly.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

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