The Bank of Japan has said it will move more slowly on cutting back its bond purchases as its governor warned that going too quickly could hit the stability of one of the world’s biggest debt markets.
The central bank is attempting to wean the Japanese economy off the huge stimulus programme under which the BoJ became the owner of roughly half the entire stock of Japanese government bonds, significantly reducing market liquidity.
Governor Kazuo Ueda told a press conference on Tuesday that the BoJ would continue to slow the rate at which it buys bonds — a process known as tapering.
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