The Bank of Japan is holding in-person meetings with market participants over the next couple of days. Three meetings are scheduled with banks, securities firms and those buying bonds for financial institutions
- the meetings are aimed at gauging a realistic pace for a reduction of its Japanese Government Bond purchases.
- the Bank will be announcing the reduction plan at its next meeting on July 30 and 31.
Bloomberg have a (gated) report up, with some comments:
- “The BOJ likely has some plans already,” said Naomi Muguruma, chief fixed-income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. “What it wants to show is a stance of proceeding cautiously by hosting the gatherings.”
- “These two days are going to be critical,” said Yuuki Fukumoto, senior financial researcher at NLI Research Institute. “For the BOJ, the key point is to hear and gather information on how much more bond-buying the market can take to assuage its concerns.”
This article was written by Eamonn Sheridan at www.forexlive.com. Source