Japanese media: The Bank of Japan will discuss ways to reduce the size of its bond purchases on Friday

On April 25, according to Jiji News Agency, the Bank of Japan will discuss plans to reduce the scale of JGB purchases at its meeting tomorrow. At its last policy meeting in March, the Bank of Japan took a step towards normalizing policy, including ending the negative interest rate policy, but did not reduce the scale of JGB purchases. The reduction in JGB purchases is expected to push the Bank of Japan into an effective "quantitative tightening" phase, in which the Bank of Japan's holdings of JGBs will decrease.