TOKYO : The Bank of Japan (BOJ) took steps on Thursday to deter market players from short-selling government bonds in a fresh sign of the mounting difficulties of sustaining its yield control policy, which seeks to cap long-term interest rates at 0.5 per cent.The central bank said in a statement that it w
TOKYO : The Bank of Japan took steps on Thursday to deter market players from short-selling government bonds in a fresh sign of the mounting difficulties of sustaining its yield control policy, which seeks to cap long-term interest rates at 0.5 per cent.
The higher charge will apply to the three most recently issued 10-year JGB notes, which could be excluded from the BOJ's fixed-rate market operation under certain conditions, it said. The move is part of the bank's efforts to address market distortions caused by its heavy bond buying to defend its cap on the 10-year bond yield.
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