BoJ announces to conduct unscheduled JGB-buying operation on Wednesday

Bank of Japan (BoJ) announced on Tuesday that it will conduct an unscheduled bond operation on Wednesday, offering to buy JPY300 billion yen ($2.00 billion) in Japanese governemnt bonds (JGBs) with maturities of five to 10 years and 100 billion yen worth with maturities of 10-25 years.

Market reaction

In response to the BoJ announcement, The 10-year JGB yield declined 0.5 basis points while the USD/JPY pair shrugged off the BoJ action and eased to near the 149.60 region.