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BOJ offers to pump $62 billion to counter rise in short-term rates -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A protective mask-wearing man walks past Bank of Japan’s headquarters amid the COVID-19 (coronavirus disease) epidemic in Tokyo. This was May 22, 2020. REUTERS/Kim Kyung Hoon

TOKYO, Reuters – Tuesday’s offer by the Bank of Japan to inject $62 billion in markets via temporary government bond purchase to offset a recent increase in short-term rates was made.

The central bank offered to buy bonds in the amount of 7 trillion yen (62 billion dollars) and then sell the bonds back for injecting funds.

The BOJ offered this offer for the second consecutive day, as the short-term rate crept up due to increased demand before the year’s end. The BOJ injures 1 trillion yen Monday in its first similar operation in almost two years.

($1 = 113.5800 yen)

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