Group 1 - The Bank of Japan maintains its target interest rate at 0.5%, aligning with market expectations for the third consecutive meeting [1] - The Bank of Japan plans to reduce its monthly government bond purchases, with an expected total of approximately 2 trillion yen from January to March 2027, and will decrease the purchase amount by about 200 billion yen each quarter starting from April 2026 [3][4] - The Japanese economy is showing signs of moderate recovery, although some weaknesses remain, and inflation expectations have risen moderately [3] Group 2 - The future direction of global trade policies remains highly uncertain, and the impact of these policies on financial and foreign exchange markets must be closely monitored [4] - By March 2027, the Bank of Japan's holdings of Japanese government bonds are expected to decrease by approximately 16-17% from the levels in June 2024 [4] - The Bank of Japan will conduct a mid-term evaluation of the bond reduction plan in June 2026, focusing on the period from April 2026 and beyond [4]

Core Viewpoint - A dissenting opinion was expressed by Bank of Japan committee member Naoki Tamura regarding the decision on the bond reduction plan [1] Group 1 - The Bank of Japan is considering a bond reduction plan, which has sparked differing views among its committee members [1] - Naoki Tamura's disagreement highlights potential divisions within the Bank of Japan regarding monetary policy direction [1]

Core Viewpoint - The Bank of Japan will maintain its current bond reduction plan unchanged until March 2026 [1] Group 1 - The decision reflects the Bank of Japan's commitment to its monetary policy framework [1] - The bond reduction plan is part of a broader strategy to manage economic conditions and inflation [1] - The timeline extension indicates a cautious approach towards economic recovery and market stability [1]

日本央行行长植田和男：为制定自2026年4月起的债券缩减计划，日本央行必须在保持可预见性和灵活 性之间继续权衡。 ...

日本央行行长植田和男：日本央行与债券市场参与者的会议纪要显示，只有少数人士希望对现有的债券 缩减计划进行调整。 ...

Group 1 - The core viewpoint of the article highlights the Bank of Japan's increasing vigilance regarding the fluctuations in ultra-long bond yields and their potential impact on short-term borrowing costs and the economy [1] - The Bank of Japan's Governor, Kazuo Ueda, indicated that significant volatility in ultra-long bond yields could influence discussions on bond reduction plans in the upcoming policy meeting [1] - A survey summary released by the Bank of Japan shows that many market participants are advocating for maintaining or slightly slowing down the bond reduction pace starting from the fiscal year 2026 [1] Group 2 - The market is particularly focused on the Bank of Japan's response during the next policy meeting scheduled for June 16-17, where the current bond reduction plan will be reviewed [1] - The upcoming meeting will also address plans for the next fiscal year and beyond, indicating a critical juncture for monetary policy [1]

Core Viewpoint - The Bank of Japan's policy on bond reduction should focus on avoiding market disruption, and there is no urgency to cut its large bond holdings starting from the next fiscal year [1] Group 1 - The Bank of Japan's board member, Noguchi Akira, emphasized the importance of a careful approach to bond reduction to maintain market stability [1] - The central bank's large bond holdings are not expected to be reduced hastily, indicating a cautious stance towards monetary policy adjustments [1]

Core Viewpoint - The recent rise in long-term interest rates is unlikely to have a direct impact on the new bond reduction plan that will be decided in June by the Bank of Japan [1] Group 1 - The Bank of Japan's committee member, Asahi Noguchi, commented on the potential effects of rising long-term interest rates [1]

Core Viewpoint - The recent rise in long-term interest rates is unlikely to have a direct impact on the new bond reduction plan that will be decided in June by the Bank of Japan [1] Group 1 - The Bank of Japan's committee member, Asahi Noguchi, commented on the potential effects of rising long-term interest rates [1]

Core Viewpoint - The Bank of Japan's policy committee member, Noguchi Akira, believes there is no need for significant changes to the existing bond reduction plan, which is set to continue until March next year [1] Group 1 - The current bond reduction plan will remain in effect until March 2024 [1] - Noguchi emphasizes the importance of taking a long-term perspective regarding the reduction plan post-April 2026 [1] - The Bank of Japan has sufficient time to manage the reduction of its balance sheet [1]