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BOJ to Reduce JGB Purchases by Considerable Volume After Next Policy Meeting

Jun 14, 2024, 06:38 AM

The Bank of Japan (BOJ) has announced plans to reduce its Japanese Government Bond (JGB) purchases. Governor Ueda emphasized that the reduction will be of considerable volume and will be implemented in a foreseeable and predictable manner. The decision aims to ensure long-term yields are formed more freely in the markets. Ueda stated that the specific amount and framework of the reduction will be decided while listening to market participants' input. Despite the reduction, the monetary easing effect from JGB buying will continue to work. The reduction will commence immediately after the next policy meeting.