TOKYO, Apr 11: The Bank of Japan said on Thursday that it will buy 300 billion yen ($3.0 billion) in government debt with maturities of 10 years or more on Friday, as the central bank aims to push down longer-term yields to end deflation.
On Friday, the BOJ will also buy 1 trillion yen of JGBs with maturities from five to 10 years, 1.1 trillion yen in debt from the 1-5 year zone and 110 billion yen in debt maturing in one year or less.
Ten-year Japanese government bond futures rose sharply on Thursday after the BOJ’s announcement. The 10-year futures were up 0.03 point at 144.19 by 0337 GMT. They ended the morning session 0.47 point lower at 143.69.
Last week the BOJ published details on the amount of debt it will purchase in April and May but did not specify the dates of each purchase.
The measures are part of the central bank’s sweeping monetary stimulus campaign announced on April 4, with policymakers planning to inject about $1.4 trillion into the economy in an effort to end two decades of stagnation.
($1 = 99.5050 Japanese yen)
(agencies)
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