news flash·2025-06-12 09:45Core Viewpoint - HSBC's global research team anticipates that the Bank of Japan will maintain its current interest rates and continue its plan to reduce the scale of Japanese government bond purchases until the first quarter of 2026 [1] Summary by Relevant Sections - Interest Rate Outlook - HSBC expects the Bank of Japan to keep interest rates unchanged in the upcoming meeting [1] - Bond Purchase Reduction Plan - The current pace of reducing Japanese government bond purchases is approximately 4 trillion yen per quarter, which is projected to decrease the monthly purchase scale from 5.7 trillion yen in July 2024 to 3 trillion yen by March 2025 [1] - By the fiscal year 2026, the quarterly purchase volume is expected to slow down to about 2 trillion yen [1] - By March 2027, the monthly purchase volume is anticipated to reach around 2 trillion yen, which HSBC considers a "natural" level, reflecting the amount purchased before the introduction of ultra-loose monetary policy in April 2013 [1]