BoJ Steps Up Bond Buying as Yields Rise

July 7, 2017 Share Print 0

The Bank of Japan stepped up plans for its bond-buying on Friday as Japanese government bond (JGB) yields crept higher, causing the yen and oil to drop.

On Friday, the BOJ said it would buy an unlimited number of 10-year JGBs at a yield of 0.110 percent, and it increased the size of its regular buying of five- to 10-year JGBs by 50 billion yen ($439.96 million) to 500 billion yen, Reuters reported.

The BOJ has set a target of keeping the 10-year JGB yield at zero, buying bonds through its quantitative easing program to enforce its policy.

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.