Until the 31st, the Bank of Japan took a measure called "continuous limit operation" to buy government bonds at a specified yield without any restrictions.
As a result of purchasing a large amount of government bonds during the period, it led to a decline in long-term interest rates, as intended.
In order to curb the rise in long-term interest rates, the Bank of Japan has taken an extraordinary measure called a "continuous limit operation" to buy unlimited government bonds with a yield of 0.25% for 3 days until the 31st and a maturity of 10 years. rice field.
On the 29th of the first day, about 520 billion yen worth of government bonds were purchased by the limit operation, and on the 30th, the amount was increased 2.5 times from the initial amount by the government bond purchase measures scheduled separately from the limit operation, about 2 trillion. I bought 300 billion yen.
Government bonds and interest rates are related to the fact that interest rates fall when government bonds are bought, and as a result of the BOJ's purchase of a large amount of government bonds through a series of measures, the long-term interest rate on the 31st temporarily dropped to 0.21%.
As part of its current monetary policy, the Bank of Japan plans to adjust long-term interest rates to around 0%, specifically to a fluctuation range of "plus or minus 0.25%."
As the upward pressure on long-term interest rates intensifies due to interest rate hikes in the United States, the Bank of Japan will take necessary measures, including limit operations, in order to curb the rise in long-term interest rates.