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BOJ is already considering reducing bond purchases at its June meeting

The Bank of Japan is likely to discuss reducing bond purchases as early as its policy meeting next week, according to people familiar with the matter.

BOJ officials are likely to consider whether the timing is appropriate to slow the pace of bond buying from the current roughly ¥6 trillion ($38.4 billion) per month and whether they should provide more details on the outlook to improve predictability improve, according to the people. The bank will conclude its two-day policy meeting on June 14.

Since the central bank does not plan to surprise bond market participants, any shift will only be gradual and in round-number phases, the people said. BOJ officials did not indicate a specific amount as the next level of purchases, the people said.

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