Bank of Japan to weight cuts to gov't bond purchases- report

The Bank of Japan will consider gradually reducing its Japanese government bond holdings in Friday's rate decision, according to a report from Nikkei.

The BOJ purchased 5.8 trillion yen of JGBs in April and 5.7 trillion yen in May but 'some within the BOJ' are now discussing lowering that 'in stages', according to the report.

JGB yields rose to a 13-year high of 1.1% last month before drifting to 0.988% last.