The Bank of Japan have decided to leave the.....>

BOJ: The Bank of Japan have decided to leave the size and frequency of their

purchases mostly unchanged in December, the Bank did lower the range on <1-Year

bonds to Y10bln-Y100bln from Y50bln-Y100bln. Purchases in the sector have been

reduced by Y50bln-Y50bln since 19 September. 

- Notably the Bank maintains ranges for long end purchases, keeps 25+ Year

purchases at Y50bln-Y150bln despite a reduction to Y90bln on November 24. The

BoJ usually aim to keep purchases in the middle of the range, so the lack of

change could indicate that talk of a steepening bias from the BoJ were

premature. 

- The BoJ also lowered their T-Bill purchases to Y15tln-Y25tln from

Y20tln-Y25tln after missing the low end of their target in November.