Bank of Japan Maintains Rates, Plans Bond Purchase Reduction

The central bank will detail a strategy next month for scaling back its massive bond-buying program over the next one to two years.

Overview

Interest rates remain in the 0-0.1% range following a unanimous vote.
The BOJ will continue current bond buying but aims to trim purchases in the future.
Governor Kazuo Ueda to provide further details in a briefing.
Japan's economy faces weak consumption and a struggling yen, complicating policy decisions.
Market participants anticipate potential rate hikes later this year.