TOKYO—Japan’s central bank stepped up efforts on Wednesday to keep a key bond yield below a red line, offering to buy more government debt, including through ad-hoc purchases, to hold down interest rates against a pull higher by global yields.
The intervention comes as the Bank of Japan (BOJ) seeks to keep monetary policy ultra-loose, even at the cost of fuelling further falls in the yen currency, which could push up import costs and hurt the economy.
