The Bank of Japan purchased a
record 3.5 trillion yen ($32 billion) in treasury bills today as the
central bank pushes forward with unprecedented monetary easing to
reach its 2 percent inflation target, reports "Bloomberg".
The amount exceeded the previous records of 3 trillion yen on Aug. 22 and Aug. 1. The BOJ also scooped up 530 billion yen in government bonds from the market today as part of its 7 trillion yen in monthly debt buying, which has drained the availability of sovereign bills and bonds for investors.
“That was a big treasury bill operation,” said Toshiaki Terada, a researcher at Totan Research Co., a money-market brokerage in Tokyo. “The banks were wanting to sell, so that’s probably why the BOJ increased its buying”.
Salix Pharmaceuticals Ltd. (SLXP) and Italy’s Cosmo Pharmaceuticals SpA (COPN) ended a $2.7 billion merger agreement.
The bank today kept the deposit rate at -0.20 percent and the marginal lending rate was maintained at 0.30 percent.
With favourable outcome by the end of 2014 we’ll get a whole new level of Forex market.