boj speech, 2023-11-29
If the Bank attempts to strictly contain yield increases for bonds with specific maturities through, for example, fixed-rate purchase operations for consecutive days in its conduct of yield curve control, not only will the curve see a distortion, but distortion in terms of bond prices could also emerge -- namely, as the Bank purchases specific bond issues, market bond prices for issues purchased and those for other issues with approximately the same residual maturity may end up being completely different.
Sentiment: neutral
Topic: mp_interest_rate