BOJ to Reduce Govt Bond Purchases

REUTERS/Issei Kato/File Photo
The Bank of Japan is seen in Tokyo in September 20, 2023.

Tokyo, June 14 (Jiji Press) — Bank of Japan policymakers Friday voted to reduce the central bank’s purchase amount of Japanese government bonds, the BOJ said.

The reduction is designed to “ensure that long-term interest rates would be formed more freely in financial markets,” the BOJ said.

The BOJ will decide on a detailed plan for the reduction over the next one to two years at its next monetary policy meeting in July, the central bank said.

The bank said its board voted to hold short-term interest rates steady in a range of zero to 0.1 pct.