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BOJ fights taper speculation with emergency bond purchases

Benchmark yield climbs toward 0.25%, prompting central bank to step in

Bank of Japan Gov. Haruhiko Kuroda holds a news conference in April 2021. (Mainichi/pool photo)

TOKYO -- The Bank of Japan on Thursday quelled speculation that it is shifting away from monetary easing by announcing an emergency bond purchase operation designed to keep rising long-term rates in check.

The BOJ said it will buy an unlimited amount of 10-year government bonds at 0.25%, the upper target set under its policy to keep long-term rates near zero.

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