BOJ to forgo July rate hike, taper US$152bil per year, says ex-policymaker

The BoJ’s headquarters in Tokyo.— AFP

TOKYO: The Bank of Japan is likely to trim bond buying by around 24 trillion yen ($152 billion) annually in new guidance due next month, but forgo raising interest rates at least until September, former board member Makoto Sakurai said on Monday.

At its policy meeting on Friday, the BOJ decided to start trimming its huge bond purchases and announce a detailed plan in July on reducing its nearly $5 trillion balance sheet, taking another step toward unwinding its massive monetary stimulus.