The Bank is fully aware that its massive JGB purchases and provision of the monetary base far exceed market expectations. Therefore, it is vital to have the cooperation of market participants, such as counterparties’ active bidding in the Bank’s market operations.
In this regard, the Bank has set up forums for enhanced dialogue with those market participants in order to exchange views pertaining to money market operations and market transactions more generally. As part of such attempts, it held the first meeting for the purpose of exchanging views with market participants last week. B.