TOKYO -- The Bank of Japan's monetary easing program is facing new hurdles as overseas investors' targeted buying of shorter-term government bonds makes the instruments scarce.
During an open-market bond-buying session Tuesday, the Bank of Japan purchased 100 billion yen ($810 million) less than during its Nov. 18 session in bonds with maturities longer than one year and up to three years. The central bank also cut purchases of treasury bills maturing in one year during buying last Friday. The short- to medium-term instruments are becoming harder to find -- "We have to compete with overseas investors," a senior BOJ official said.
