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BoJ's bond buying hits record ¥16.2 trillion in June

The purchases of the government bonds by the Bank of Japan (BoJ) reached its record of ¥16.2 trillion, or approximately $119 billion, the institution revealed on Thursday.

The bank's move came to protect the long-term yield from rising. The BoJ previously set the ceiling for the 10-year Japanese government bond yield to 0.25 percent. However, given the hardships caused by the COVID-19 pandemic and prolonged by Russia's military operation in Ukraine, the yield has been moving closer to that figure throughout the year.

More recently, the bank stressed the necessity of keeping its monetary policy easy to combat the crisis and the rise in inflation that has emerged from it.

Baha Breaking News (BBN) / JR