BOJ will reduce purchases of government bonds

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

The cut is intended to “ensure that long-term interest rates can 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 keep short-term interest rates stable within a range of zero to 0.1 percent.