November 19, 2018 / 6:03 AM / a month ago

Japan MOF may trim issuance of JGBs of up to 20 years next FY -sources

TOKYO, Nov 19 (Reuters) - Japan’s Ministry of Finance is considering issuing fewer government bonds with maturities of up to 20 years in the fiscal year from April 2019, sources involved in the planning said on Monday.

Total bond sales are likely to fall next fiscal year, from 134.2 trillion yen ($1.19 trillion) planned this year, due to a narrowing budget deficit, the sources said, requesting anonymity because the plan is not public.

Cutting the issuance of 20-year bonds, which are the only maturity for which no reduction is planned this year, will likely become a priority, the sources said.

The exact size of the cut is still being worked out, but it could be smaller than the cut of 7.1 trillion yen for this year as the government plans stimulus to offset the impact of a sales tax hike in October 2019, they said.

$1 = 112.70 yen Reporting by Takaya Yamaguchi, writing by Hideyuki Sano Editing by Chang-Ran Kim

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