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BOJ on Alert for Further Long-Term Rate Falls

BOJ on Alert for Further Long-Term Rate Falls

   Tokyo, Aug. 7 (Jiji Press)--The Bank of Japan is on alert for further declines in long-term interest rates following their slide to a three-year low earlier this week amid concerns about U.S.-China trade tensions.
   In Japanese government bond trading in Tokyo Tuesday, the yield on the benchmark 10-year issue briefly fell below 0.2 pct, a level considered the lower limit by the central bank.
   If the yield drops further, the BOJ is expected to refrain from purchasing JGBs at certain yield levels in its market operations or reduce the amount of JGBs it buys, analysts said.
   But such moves could narrow gaps between interest rates in Japan and abroad and lead to the yen's further rise against other major currencies, pundits said.
   In addition, a reduction in the BOJ's JGB purchases at a time when the central banks in Europe and the United States are moving to ease their monetary policies, its stance could be regarded as negative about easing and push the yen higher, they said.

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AFP-JIJI PRESS NEWS JOURNAL


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