noun
open market operation
A central bank's buying and selling of government bonds to adjust the money supply and influence short-term interest rates.
日本銀行は公開市場操作を通じて金利を調整している。
The Bank of Japan adjusts interest rates through open market operations.
Compound of 公開 (open, public), 市場 (market), and 操作 (operation, manipulation). A direct translation of the English term 'open market operation'.