TOKYO, July 7 (Xinhua) -- The Bank of Japan (BOJ) bought 16.20 trillion yen (119 billion U.S. dollars) worth of Japanese government bonds in June, setting a monthly record, the central bank's data revealed Thursday.
The move came as the BOJ sought to prevent a rise in long-term yields above its upper limit to ensure monetary easing.
The previous monthly record was 11.58 trillion yen (85 billion dollars) in April 2016.
The BOJ aimed to defend its 0.25-percent limit on the benchmark 10-year Japanese government bond yield, amid rising long-term interest rates overseas.
The Japanese central bank's bulk buying of bonds to maintain ultra-low rates contrasted with its U.S. and European counterparts. The latters are tightening their monetary policies in stages, sending the Japanese yen to plunge.
According to BOJ statistics, it held a record 528.23 trillion yen (3.88 trillion dollars) worth of long-term Japanese government bonds at the end of June, after years of monetary easing under Governor Haruhiko Kuroda.
Under the BOJ's yield curve control program, it sets short-term interest rates at minus 0.1 percent while guiding 10-year Japanese government bond yields around zero percent. ■