The total amount of long-term government bonds purchased by the Bank of Japan last year was over 111 trillion yen, the highest level in six years.
Central banks in Europe and the United States are rushing to tighten monetary policy, and upward pressure on long-term interest rates in Japan is increasing.
According to the announcement, the total amount of long-term government bonds purchased by the Bank of Japan last month was 16,180.9 billion yen, the second largest amount after June last year, which was the highest amount for a month.
As the Bank of Japan revised its large-scale monetary easing measures last month, speculation spread in the government bond market that the Bank of Japan might tighten monetary policy in the future. , interest rates on a wide range of government bonds rose.
On the other hand, the Bank of Japan conducted temporary purchases of government bonds to suppress the rise in interest rates, and the amount of purchases increased.
In addition, the total amount of purchases for the year was 111.0607 trillion yen, more than 37 trillion yen higher than in 2021.
This is the highest level in six years since 2016, due to increased purchases of government bonds throughout the year in order to curb the rise in long-term interest rates in Japan, which was put under upward pressure by monetary tightening in Europe and the United States.
As the number of long-term government bonds held by the BOJ increases, there are concerns in the market that the so-called "exit strategy," in which monetary easing is reduced, will have a greater impact on financial markets. It seems that difficult steering is required.