JGBs edge lower ahead of BoJ’s January monetary policy meeting minutes, national CPI

Japanese government bonds edged lower Thursday ahead of the Bank of Japan’s (BoJ) January monetary policy meeting minutes and the country’s national consumer price inflation index (CPI) for the month of December, scheduled to be released today by 23:30GMT and 23:50GMT respectively.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose 1 basis point to 0.08 percent, the yield on the long-term 30-year note traded tad higher at 0.83 percent and the yield on short-term 2-year steadied at -0.13 percent by 04:15GMT.

The BoJ, in its monetary policy meeting held Tuesday, kept its ultra-loose monetary policy in place, tamping down investor expectations of a move towards an exit from crisis-era stimulus in line with the trend in other major economies.

The decision came as inflation remains stubbornly low in Japan, even as the world's third largest economy has enjoyed seven straight quarters of growth. Bank of Japan Governor Haruhiko Kuroda gave few clues about any timeline for pulling back the bank's huge asset-buying program, shrugging off market expectations.

Meanwhile, the Nikkei 225 index traded nearly 1 percent lower at 23,714.00 by 04:25 GMT, while at 04:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 25.19 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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