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TOKYO, April 27 (Reuters) - Japanese government bond prices were mostly steady on Thursday, underpinned by stronger U.S. Treasuries, and were given some breathing space as Tokyo stocks pulled back from a four-week high.
JGBs took in stride a decision by the Bank of Japan to stand pat on monetary policy on Thursday following its two-day meeting, as the outcome was well anticipated.
The central bank kept its yield target for the 10-year JGB around zero percent. It offered a more upbeat view on the Japanese economy but slightly cut its inflation forecast for the current fiscal year, suggesting that it will maintain its massive monetary stimulus for the time being to achieve its ambitious 2 percent target.
The 10-year JGB yield remained unchanged at 0.015 percent and the 20-year yield was also flat at 0.570 percent.
Treasury prices rose on Wednesday, reversing steep losses sustained the last few sessions, as President Donald Trump unveiled a tax reform plan that largely underwhelmed the market. (Reporting by the Tokyo markets team; Editing by Sherry Jacob-Phillips)