The Bank of Japan has re-defined 1.0% as an 'upper bound' for bond yields, allowing for flexibility in its control measures. The central bank will continue large-scale bond buying and nimble market operations.
TOKYO, Oct 31 - The Bank of Japan modified its bond yield control again on Tuesday by re-defining 1.0% as an"upper bound" with room for allowance, rather than a rigid cap.
"The BOJ will regard the upper bound of 1.0% for the 10-year Japanese government bond yield as a reference" and continue large-scale bond buying and nimble market operations, the central bank said in a statement. As widely expected, the BOJ maintained a 0.1% interest charged on financial institutions' excess reserves parked with the central bank, and a 0% target for the 10-year government bond yield set under its yield curve control policy.
Bank Of Japan Bond Yield Control Flexibility Large-Scale Bond Buying Nimble Market Operations
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