BoJ discusses various options about bond buying or tapering with investors

Here are the highlights of Bank of Japan’s (BoJ) Summary of Meeting with investors

One participant said need for further tapering of bond purchases is not high.

One participant said no need for further tapering of bond buying.

One participant said appropriate for BoJ to maintain current pace of bond buying at 2.1 trillion yen per month.

One participant said BoJ should continue buying JGBs at certain size to supply money in line with expansion of economy.

One participant said BoJ should taper by 100 billion yen per quarter, so monthly bond buying slows to around 1.7 trillion yen.

One participant said BoJ should keep tapering, aim to buy around 1-2 trillion yen worth of JGBs per month.

One participant said BoJ's bond buying has fulfilled role of monetary policy, so BoJ should aim to eventually slow purchases to around 1.3 trillion yen per month

One participant said BoJ should slow bond buying until it hits zero, while conducting regular checks on market functioning.

One participant said BoJ should keep tapering, communicate its views on desirable size of balance sheet.

One participant said BoJ should create opportunity to check bond market moves, functions at regular basis.

Market reaction

There seems to be no immediate impact of the release of the BoJ summary of the meeting with investors on the Japanese Yen (JPY). As of writing, USD/JPY trades flat at around 159.70.