I. Summary of Staff Reports on Economic and Financial Developments4 A. Market Operations in the Intermeeting Period In accordance with the short-term policy interest rate of minus 0.1 percent and the target level of the long-term interest rate, both of which were decided at the previous meeting on January 22 and 23, 2019, the Bank had been providing funds through purchases of Japanese government bonds (JGBs) and other measures.5 In this situation, 10-year JGB yields had been at around 0 percent, and the shape of the JGB yield curve had been consistent with the guideline for market operations. B. Recent Developments ... (full story)