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BOJ to taper by 2T yen per month

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TOKYO — The Bank of Japan is likely to trim its monthly bond buying by around 2 trillion yen ($12.7 billion) in new guidance due next month but forgo raising interest rates at least until September, former board member Makoto Sakurai said on Monday.

TOKYO — The Bank of Japan is likely to trim its monthly bond buying by around 2 trillion yen in new guidance due next month but forgo raising interest rates at least until September, former board member Makoto Sakurai said on Monday.At its policy meeting on Friday, the BOJ decided to start trimming its huge bond purchases and announce a detailed plan in July on reducing its nearly $5 trillion balance sheet, taking another step toward unwinding its massive monetary stimulus.

But with the governor having said the size would be 'significant,' there's a good chance it will taper by around 2 trillion yen,' Sakurai told Reuters in an interview.The BOJ currently buys roughly 6 trillion yen of government bonds per month with an allowance of 5-7 trillion yen.

 

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