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JGB futures rise as BOJ meeting throws no surprise

By Sam Byford

July 21 (Reuters) - Japanese government bond futures gained and yields fell as the Bank of Japan confirmed at its latest meeting that it would maintain its ultra-easy monetary policy, as had been widely expected by the market.

Benchmark 10-year JGB futures rose 0.11 point to 149.3, with a trading volume of 7,732 lots.

The 10-year JGB yield fell 1 basis point to 0.230%.

The results of the BOJ's policy meeting were described as "in line with expectations, no surprises" by a market participant at a domestic asset management firm.

The BOJ maintained its -0.1% target for short-term rates and nearly zero for 10-year bond yields.

The central bank also raised its core consumer inflation forecast for the current fiscal year ending in March 2023 from 1.9% to 2.3%.

The two-year JGB yield was flat at -0.080%, and the five-year yield fell 1 basis point to 0.015%.

The 20-year JGB yield fell 2.5 basis points to 0.890%, and the 30-year JGB yield fell 2 basis points to 1.250%. (Reporting by Sam Byford and Tokyo markets team; Editing by Vinay Dwivedi)

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