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Dow Jones Newswires: BOJ to increase JGB purchases in Wednesday’s operation

The Bank of Japan said it will increase purchases of Japanese government bonds in its Wednesday operation amid rising bond yields.

The central bank said Tuesday that it will buy 625 billion yen ($4.65 billion) each of JGBs maturing in one to three years and those with three- to five-year maturities, increasing from Y475 billion each planned initially. It also plans to increase purchases of JGBs with five- to 10-year maturities to Y800 billion from its initial plan of Y500 billion.

The bank will also offer to buy Y250 billion of 10- to 25-year JGBs and Y150 billion of bonds with more than 25-year maturities, it said.

The yield on benchmark 10-year Japanese government bonds was recently at 0.25%–at the top of the BOJ’s target range.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

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