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QuestionWhat are market operations?


At Monetary Policy Meetings, the Bank's Policy Board discusses the economic and financial situation and decides the guideline for market operations, the Bank's monetary policy stance, for the intermeeting period.

Under this guideline, the Bank supplies or absorbs funds in financial markets on a daily basis. The primary means of market operations are open market operations, through which the Bank provides loans to financial institutions, or purchases from or sells to financial institutions financial assets such as Japanese government securities.

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The latest guideline for market operations is available from Statements on Monetary Policy at Monetary Policy Releases. The results of market operations are available at Market Operations by the Bank of Japan.