Boj Releases Summary of Market Views on Bond Taper Plan

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The Bank of Japan on Tuesday released a summary of opinions it collected in a survey of bond market participants on how the central bank should taper its huge bond purchases.

Bank of Japan surveys bond market, proposes tapering monthly purchases to 2-4 trillion yen. Faster tapering suggested, plan to be detailed by end-July.

Some bond market participants called for reducing the BOJ's monthly government bond purchases to around 2 trillion to 3 trillion yen ($12.44-$18.65 billion), while others called on the bank to keep buying around 4 trillion yen, the BOJ said in the summary.

The summary included opinions that called for an even faster pace of tapering, with one saying the BOJ should aim to
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trim buying to around 1-2 trillion yen per month. The findings from the survey were released as part of a briefing material the BOJ prepared for a two-day meeting with bond market participants that kicked off on Tuesday.

The outcome of the meeting will be taken into account when the BOJ lays out its bond-tapering plan later this month.

The BOJ currently pledges to buy roughly 6 trillion yen ($37 billion) in government bonds per month. It will announce a detailed plan on how to taper the bond purchases at its next policy meeting on July 30-31.

Source: https://www.channelnewsasia.com

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