Boj Will Conduct More Unlimited Bond Buying Through Thursday
The Bank of Japan said it will continue to conduct unlimited buying operations of Japanese government bonds, aimed at keeping long-term interest rates from rising.
The BOJ said it carried out these operations at a fixed yield of 0.25 percent in the four business days through Tuesday. It said it bought 10-year JGBs worth just over 2 trillion yen, or about 16 billion dollars, in the four-day period.
The bank has been trying to keep the 10-year-JGB yield within a range of plus or minus 0.25 percent.
Buying bonds in the market pushes their prices up and their yields down. But the 10-year yield remained close to the central bank's upper limit on Tuesday, so the BOJ said it will conduct the operations for two additional days through Thursday.