The Bank of Japan offered to buy unlimited amount of 10-year Japanese Government Bonds after yields rose to the upper end of the target range.
In a statement released Monday, the central bank said it will buy unlimited amount of 10-year JGBs at 0.25 percent for three consecutive days starting March 29.
Earlier, the central bank had conducted unlimited JGB purchases at 0.25 percent on February 14.
Despite the intervention, the yields on the government bonds continued to rise against the hawkish stance of the U.S. Federal Reserve.
The yield on 10-year JGBs rose to 0.24 percent on Monday and the Japanese yen declined to a six-year low against the U.S. dollar.
The currency depreciated to 123.66 against the greenback earlier today.
