The Bank had been conducting market operations, including purchases of Japanese government bonds (JGBs), in accordance with the guideline for market operations and the guideline for conduct of yield curve control, both of which were decided at the previous meeting on December 18 and 19, 2023. 6 As for the Bank's conduct of nimble market operations, it had reduced the amount of its scheduled JGB purchases, for example, mainly taking into account interest rate developments and supply and demand conditions in the JGB markets. With these market operations, long-term interest rates had been at levels consistent with the ... (full story)