© Reuters. FILE PHOTO: Masayoshi Amamiya, a nominee for Bank of Japan deputy governor, attends a confirmation hearing in the lower house of parliament in Tokyo
KYOTO, Japan (Reuters) – Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday that the central bank would purchase government bonds “promptly and appropriately” if yields rose rapidly.
“The target level of long-term yields remains at around zero percent,” Amamiya said in a speech to business leaders in Kyoto, western Japan. “The BOJ does not expect the level of yields to ratchet up.”
Japanese bond yields hit a 1-1/2-year high on Thursday as investors continued to test the limits of the central bank’s new commitment announced two days ago to allow debt markets to move more freely.
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