Japan's central bank offers bond purchases to keep rates low

TOKYO: The Bank of Japan made an offer for unlimited government bond purchases Monday, moving to curb a surge in long-term interest rates in the world's third-largest economy.

Japan's central bank set the interest rate for purchasing 10-year government bonds at 0.25%. The market rate had risen close to that level recently on speculation the BOJ might begin reeling back its ultra-loose monetary policy in line with other central banks like the U.S. Federal Reserve.