The Bank of Japan (BOJ) set planned monthly offers of coupon-bearing Japanese government bonds (JGBs) at ¥2.3 trillion for October-December, down from ¥2.5 trillion a month in July-September. The lower amount continues the central bank’s staged reduction in its bond-buying plan.
The schedule lists approximate monthly offers. It is not a report of completed purchases or the total for the three-month quarter. The BOJ says it announces the actual size when it conducts each purchase operation, so the October-December figure describes the planned monthly pace.
Under a framework set out in June, the BOJ plans to reduce the planned monthly purchase amount by about ¥200 billion each calendar quarter, in principle, through January-March 2027. From April 2027, the planned amount is about ¥2 trillion a month.
The BOJ said the approach is intended to give markets a larger role in setting long-term interest rates while preserving flexibility to adjust purchases to support stability in JGB markets. The October-December schedule includes Japan Climate Transition Bonds and excludes inflation-indexed and floating-rate bonds.
The BOJ’s release calendar scheduled publication of the October market-operations data for 6:50 p.m. ET Sunday, Nov. 8 (23:50 UTC), corresponding to 8:50 a.m. Japan Standard Time Nov. 9. The central bank’s monthly data index lists the October workbook as posted Nov. 9.
At its Oct. 30 meeting, the BOJ set its guideline for the uncollateralized overnight call rate at around 1.25% in an 8-1 vote. Its next monetary policy meeting is scheduled for Dec. 17-18.
