-- The Bank of Japan will speak face-to-face with market participants over the next couple of days in key meetings aimed at gauging a realistic pace for a reduction of its bond purchases to be announced later this month.Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’Biden’s Biggest Donors Left Powerless to Sway Him to End Bid
“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.” Ueda said the size of the reduction would be “sizable” while declining to elaborate further at a post-meeting press conference on June 14. Takahide Kiuchi, a former BOJ board member, said Ueda’s comments implied the reduction would be bigger than the expected first cut.
The BOJ ended its large-scale easing in March but decided to keep buying roughly the same amount of bonds to avoid triggering shockwaves in financial markets.
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