In the bond market on the 17th, Japanese government bonds were sold due to the speculation that the Bank of Japan might move to correct monetary easing, and long-term interest rates temporarily rose to 0.265%.
After that, when the Bank of Japan decided to maintain large-scale monetary easing measures, there was a move to buy back and long-term interest rates were falling.
The Bank of Japan is planning to adjust the yield of 10-year government bonds, which is a representative indicator of long-term interest rates, to a fluctuation range of "plus or minus 0.25%" in the current large-scale monetary easing policy. ..
Interest rates on government bonds rise when they are sold, but in the bond market on the 17th, sales of Japanese government bonds increased in the morning, and long-term interest rates temporarily rose to 0.265%.
This is the first level in 6 years and 5 months since January 2016.
With the accelerating movement of monetary tightening at central banks in Europe and the United States, some investors have become more skeptical that the Bank of Japan will also move to correct monetary easing, leading to the sale of government bonds. rice field.
However, after that, the Bank of Japan announced that it would maintain large-scale monetary easing measures, and in order to curb long-term interest rates, in principle, a measure called a "limit operation" to buy unlimited government bonds at a specified yield was implemented every day. The long-term interest rate fell to 0.22% as the movement to buy back government bonds became stronger.
Market officials said, "At the press conference after the monetary policy decision meeting, attention is focused on what kind of explanation Kuroda will explain about the future of monetary policy."