Japan’s Megabanks Are Said to Seek Deep Cuts to BOJ Bond Buying
- One megabank sought eventual cut to 1 tln yen: people familiar
- BOJ didn’t show specific plan for reducing its bond purchases
Outside the Bank of Japan (BOJ) headquarters in Tokyo.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Japan’s largest banks called on the Bank of Japan to make deep cuts to its monthly bond purchases during hearings of market participants at the central bank, according to people who attended.
One megabank said the BOJ should move early to make sharp cuts to its bond buying, while another major bank recommended an eventual reduction to monthly purchases of ¥1 trillion ($6.2 billion), the people said. A third megabank said the buying should be halved from the current monthly level to ¥3 trillion yen, the people added.