The Bank of Japan (BOJ) announced an extra bond-buying plan on Monday to curb sharp increases in yields.

This follows an unscheduled operation it conducted on Friday with an amount of 5-to-10-year bond purchases at a value of 300 billion yen (USD 2 billion). Some analysts consider it a relatively small amount and a step that was not strong enough to achieve a significant reduction in the return rate of Japanese bonds.

The BOJ will purchase extra amounts of 5-to-10-year debt on Wednesday as it strives to slow rising yields that are at the highest level in a decade.

The benchmark 10-year maturity climbed to 0.775 percent Monday, a level last seen in 2013. Japans 20- and 30-year yields peaked since 2014 in Sunday’s trading.

Source: Qatar News Agency