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Asserting its pledge to a zero percent limit on ten-year bond yields, the Bank of Japan outlined the schedule of its asset buying.
The central bank said it will purchase a minimum of ¥1.37 trillion ($12.2 billion) and a maximum of ¥2.17 billion ($19.3 billion) of sovereign bonds next month. It provided different dates and expected sizes for its proposed bond auctions at various maturities.
The BOJ gave a strong indication that the announcement is intending to imply a minimum plan for purchases, instead of a maximum, saying it may raise the frequency as necessary.
It will administer asset buying in a flexible manner, accounting market situations, seeking to attain the targeted level of a long-term interest rate as stated in its guideline for operating the market.
