Furthermore, with respect to policy responses to the corporate bond market, the Bank is currently adjusting the amount outstanding of corporate bonds, so that it will return to the pre-pandemic level. In this adjustment, the Bank will give due consideration to issuance conditions for these bonds.
Although these measures are expected to expand the range of 10-year JGB yield fluctuations, in continuing with monetary easing under the framework of yield curve control going forward, they have the significant merit of facilitating the transmission of monetary easing effects, such as through corporate financing, while maintaining the function of JGB yields as reference rates.