BoJ ups asset purchases to curb bond market pressure
The Bank of Japan has increased the size of JGB purchase operations
The Bank of Japan (BoJ) has increased the size of its Japanese government bond (JGB) purchase operations and announced unlimited purchases of 10-year JGBs at a fixed rate of 0.11%, showing its determination to reduce yields amid the global bond sell-off.
As central banks from major economies are beginning to signal an exit from their aggressive economic stimulus, global investors are shifting their money away from government bonds, fearing the market will lose its monetary policy support.
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