Tuesday, July 23, 2024
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The BOJ expected to consider cuts in bond purchases as the time for a rate hike approaches

The Bank of Japan is widely expected to discuss cutting bond purchases at a policy meeting ending Friday, with some investors expecting the central bank will also lay the groundwork for a rate hike next month.

Gov. Kazuo Ueda and his fellow administration members will keep the policy rate in a range between 0% and 0.1% at the end of their two-day meeting, according to all but one of the economists polled by Bloomberg. A majority predict the administration will choose to cut bond purchases from about ¥6 trillion ($38.6 billion) per month.

People familiar with the matter said earlier this month that the BOJ is likely to consider whether the timing is appropriate to slow the pace of bond buying.

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