The Bank of Japan announced on the 14th that it will take measures to buy unlimited government bonds at the specified yield in order to curb the rise in long-term interest rates.
As a result, long-term interest rates have fallen in the bond market on the 14th.
The Bank of Japan announced on the morning of the 14th that it will implement a measure called a "limit operation" to buy unlimited government bonds at a specified yield of 0.25%.
It is the first time in about 3 years and 7 months since July 2018 that the Bank of Japan has taken this measure.
As part of monetary easing, the Bank of Japan plans to adjust the yield of 10-year government bonds to a fluctuation range of "plus or minus 0.25%", but the long-term interest rate will be held on the 10th of this month before the holidays. At one point, it rose to 0.23% for the first time in about 6 years and 1 month, approaching the upper limit of the fluctuation range.
The Bank of Japan aims to curb the rise in long-term interest rates through this measure and emphasize its stance of continuing monetary easing.
In the bond market on the 14th, in addition to the movement of the Bank of Japan, there was a movement to buy Japanese government bonds, which are considered to be relatively safe due to the tightening situation in Ukraine, and long-term interest rates temporarily dropped to 0.20%.
In reality, there was no move to accept the BOJ's purchases because the market yield was lower than the BOJ's 0.25% and prices remained high.
Chief Cabinet Secretary Matsuno "Efforts to Achieve Price Stability Targets"
Chief Cabinet Secretary Matsuno said at a press conference in the morning, "I would like to refrain from commenting on market trends. I think that the specific method of monetary policy of the Bank of Japan should be entrusted to the Bank of Japan. I hope that you will continue to make efforts toward this. "