TOKYO, March 22 (Reuters) - Bank of Japan Governor Kazuo Ueda said on Friday the central bank will eventually scale back its government bond purchases, but will hold off on doing so for the time being.
"We've been intervening in the government bond market quite heavily. We would like to decrease our bond buying in the future. But for now, we'd like to take a wait-and-see approach to see how markets absorb our new policy," Ueda told parliament.
The BOJ ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from decades of massive monetary stimulus that was aimed at reviving the economy and quashing deflation. (Reporting by Leika Kihara Editing by Shri Navaratnam)
