Yen muted as BOJ decides on a more gradual bond buying taper

Policy meeting held after volatility in long-term government bond market

The Bank of Japan has been tapering its bond purchases since August as part of its decision to normalize its ultraloose monetary policy. (Photo by Akira Kodaka)

TOKYO -- The Japanese yen was largely flat Tuesday after the Bank of Japan said at the end of its policy meeting that it would be less expeditious in reducing its bond purchases, as expected.

The currency traded at around 144.70 to the dollar as of 5:16 p.m. Tokyo time, trimming gains to levels seen before the policy decision. The currency fluctuated in a narrow band during BOJ Gov. Kazuo Ueda's post-policy meeting news conference.

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