BOJ Announces Unscheduled Bond Buying as Yields Stay at Ceiling
- ‘Operation is a message to restrain rise in yields”: Daiwa
- BOJ says it will buy debt due in 5-to-10 years, 10-to-25 years
The Bank of Japan (BOJ) headquarters in Tokyo.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
The Bank of Japan announced an unscheduled bond-purchase operation as it seeks to cap upward pressure on yields before a policy decision later this week.
The BOJ said it would buy 150 billion yen ($1.04 billion) of debt due in five to 10 years, and 100 billion yen of securities maturing in 10 to 25 years. That’s in addition to the central bank’s daily offer to purchase an unlimited quantity of 10-year bonds at 0.25%. The 10-year yield climbed to the 0.25% upper limit of the BOJ’s tolerated range last week for the first time in three months.