BoJ decides to reduce JGB purchases; will release detailed plan at July meeting
Key points
- BoJ leaves short-term policy rate on hold at "around 0% to 0.1%" and decides to reduce its purchases of JGBs
- Bank plans to ascertain views of market participants and come up with detailed plan for dialing back its purchases "during the next one to two years or so"
- This plan will now be "main event" at July meeting, with next rate hike likely pushed back to autumn or later
