freegamescandycrushsoda| The Bank of Japan cuts back on routine bond purchases as the yen continues to weaken

The Bank of Japan seeks to cut its bond marketFreegamescandycrushsodaProposed to buy treasury bonds in the routine operation on Monday.FreegamescandycrushsodaThe scale is lower than on April 24th.

The move could put upward pressure on JGB yields, potentially narrowing the huge spread between Japan and the US, which is bad for the yen. Yields on benchmark 10-year Japanese bonds rose immediately after the BoJ's announcement, and the yen regained its earlier losses. The yield on 30-year Japanese bonds also hit its highest level since 2011.Freegamescandycrushsoda.03%.

The Bank of Japan said it would buy 425 billion yen ($2.7 billion) of 5-10-year government bonds, compared with 475.5 billion yen last month. The latest purchases are still within the planned range for the current quarter. This is the first time that the Bank of Japan has scaled back its purchases since late December.

Period (year) before buying (100 million yen) before buying (100 million yen) second quarter plan range (100 million yen) 1-337503752 (May 7) 3000-45005-1042504755 (April 24) 4000-5500 10-2515001507 (May 7) 1000-2000

"the reduction in purchases by the Bank of Japan is surprising, which could help boost yields," said Takahiro Otsuka, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities. "it is hard for the market not to see this as a response to the recent weakness of the yen, and bond markets are likely to see more volatility."

Kazuo Ueda, governor of the Bank of Japan, said in March that the bank's new approach was to use short-term interest rates as the main policy tool, rather than bond purchases or central bank bond holdings.

A summary of the views of the Bank of Japan's April policy meeting released last week showed that policy committee members were closely watching the impact of a weaker yen on inflation and expected the pace of interest rate hikes to accelerate as a result, boosting speculation that the bank would raise interest rates earlier and cut back on bond purchases.

"the Bank of Japan seems to be under pressure from the government" to take action to deal with the falling yen and loose financial conditions, said Shoki Omori, a strategist at Mizuho Securities in Tokyo. "however, the impact will be limited because investors are prepared for it after the summary of views at the Bank of Japan policy meeting in April."

After the news of the reduction in bond purchases was announced, it fell by 0%.Freegamescandycrushsoda.1% of the yen regained its lost ground against the dollar and held steady at 155.81, while 10-year bond futures extended their losses. Japan's benchmark 10-year yield rose 4 basis points to 0.94 per cent on Monday, moving towards a 10-year high of 0.97 per cent hit in November.