January 23, 2018 / 6:41 AM / a year ago

JGBs tick up after BOJ maintains policy, economic outlook

TOKYO, Jan 23 (Reuters) - Japanese government bond prices edged up on Tuesday after the Bank of Japan kept its monetary policy on hold and largely maintained its economic projections, dropping no hint of a possible exit from its stimulus.

The 10-year JGB futures price rose 0.10 point to 150.47 while the benchmark cash 10-year JGB yield dipped 0.5 basis point to 0.070 percent, slipping further from a six-month high of 0.090 percent set on Thursday.

The 20-year JGBs were also well-bid, with their yield inching down 0.5 basis point to 0.585 percent.

Other maturities were mostly flat, with the five-year yield at minus 0.085 percent and 30-year at 0.820 percent.

The BOJ kept monetary settings unchanged and stuck to its growth and inflation forecast.

While that was in line with expectations, it prompted short-covering by some players who had thought the BOJ could indicate its stimulus may be curtailed in the future. (Reporting by Tokyo Markets Team; Editing by Jacqueline Wong)

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