By Megumi Fujikawa

TOKYO--Bank of Japan Gov. Kazuo Ueda said the central bank would likely reduce its purchases of Japanese government bonds by a considerable amount after discussing the matter closely with market players.

"It is appropriate to reduce purchases of JGBs in a predictable manner, while taking into account the stability and securing flexibility of the JGB market," Ueda said at a news conference on Friday.

Earlier Friday, the central bank left its policy interest rate unchanged, but decided to reduce government bond purchases. It said it would announce a detailed plan at its next meeting in July.

Write to Megumi Fujikawa at

(END) Dow Jones Newswires

06-14-24 0407ET