(Bloomberg) -- The Bank of Japan will discuss abandoning its annual 80 trillion yen ($742 billion) annual purchase target for Japanese government bonds at its monetary policy meeting Monday and replacing it with the ability to buy an unlimited amount of bonds, the Nikkei reported.
- Nikkei report doesn't cite anyone
- BOJ is set to double its purchase targets for CP and corporate bonds, and is likely to keep the 10-year JGB yield target at around 0% and maintain the negative rate at -0.1%
- The central bank is set to hold its next meeting on April 27 from 9 a.m. local time, having switched to a one-day format due to the spread of the coronavirus
- NOTE: The bank has kept its reference to the 80 trillion yen purchase target, pledging to “conduct purchases in a flexible manner so that their amount outstanding will increase at an annual pace of about 80 trillion yen,” even though actual purchases have fallen substantially below that target in recent years
Related stories:
- Treasuries Pare Losses After Nikkei Report on BOJ Bond Buying
- Economists See BOJ Doing More to Help Ease Credit Crunch
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
