From the 21st to the 26th of this month, the Bank of Japan is implementing a measure called "continuous limit operation" to buy unlimited government bonds at a specified yield, but on the 21st, it will respond to the purchase. The long-term interest rate remained around 0.25%, which is the upper limit of the Bank of Japan.
As part of its monetary easing policy, the Bank of Japan plans to adjust the yield of 10-year government bonds, which is an indicator of long-term interest rates, to a fluctuation range of "plus or minus 0.25%."
Under these circumstances, the Bank of Japan took measures to purchase unlimited government bonds at the specified yield on the 20th because the long-term interest rate on the 19th reached the upper limit of 0.25%, and then continued to purchase for a certain period from the 21st. We are implementing a measure called "operation".
Interest rates on government bonds fall when they are bought in the market, and the Bank of Japan aims to curb the rise in long-term interest rates by designating yields and purchasing government bonds without restrictions.
On the 21st, the first day of the continuous measures, the long-term interest rate was 0.245% to 0.25%, which was a transaction near the upper limit, so there was no move to accept the BOJ's purchase.
The Bank of Japan will continue this measure until the 26th of this month.