BOJ chief says fixed-rate bond buying operation had desired effect

Economy

The Bank of Japan's offer to buy Japanese government bonds at a fixed rate had the "appropriate" effect, Governor Haruhiko Kuroda said Tuesday following its first such operation in over three years to curb a rise in long-term interest rates. Kuroda said the offer, which drew no bids on Monday, was made as Japan's long-term interest rates had been "excessively affected" by rising U.S. and other long-term interest rates. "It's possible that we will take similar steps as needed," Kuroda told a parliamentary session. In the first fixed-rate purchase operation since July 2018, the BOJ sought to buy...

Kyodo News

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