Bank of Japan decides to reduce bond purchases

2024-06-14 13:40

Already collect

TOKYO, June 14 (Xinhua) -- The Bank of Japan (BOJ) on Friday decided to reduce its purchases of Japanese government bonds, in a further step toward policy normalization after years of massive monetary stimulus to achieve stable inflation.

At the end of a two-day policy meeting, the central bank said it will announce details of its plan to cut the long-term government bond buying in the next meeting.

Until then, the BOJ will maintain its bond purchases at the current pace of around 6 trillion yen (38.1 billion U.S. dollars) per month, the central bank said.

The BOJ also said its board voted to leave other measures unchanged, including holding its policy interest rate steady in a range of zero and 0.1 percent.

The planned cutback marks another move in line with efforts to normalize monetary policy following the central bank's first rate hike in 17 years in March when it decided to end its zero interest rate policy, new equity purchases and yield curve controls but stopped short of reducing the amount of its bond purchases.
Add comments

Latest comments

Latest News
News Most Viewed