TOKYO, Nov 27 (IFR) - Japanese government bond prices rose on Wednesday, with the 10-, 20- and 30-year yields hitting two-week lows on buying by pension funds to adjust the duration of their portfolios at the end of the month.

As widely expected, the Bank of Japan offered to buy 600 billion yen ($5.9 billion) worth of JGBs in the secondary market as part of its campaign to lift the world's third-largest economy out of 15 years of deflation.

BOJ board member Sayuri Shirai said on Wednesday that the central bank should not hesitate to ease monetary policy further if risks to the economy and prices materialise.

The 10-year yield slipped 1.5 basis points to 0.60 percent, touching a two-week low, while 10-year JGB futures added 0.13 point to 145.08, reaching a three-week high.

Yields on longer maturities also fell to two-week lows. The 20-year yield was down 2 basis points at 1.475 percent, while the 30-year yield eased 2.5 basis points to 1.625 percent.

Several pension funds were seen buying long-term and superlong JGBs for their month-end duration adjustments.

A modest fall in U.S. Treasury yields overnight also had some positive effect on the JGB market.