Asia-Pacific markets range bound ahead of Bank of Japan rate decision

Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds.

Japan's Nikkei 225 futures pointed to a weaker open for the market, with the futures contract in Chicago at 38,665 and its counterpart in Osaka at 38,570 compared to the previous close of 38,720.47.Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported theThe BOJ currently aims to purchase about 6 trillion yen in bonds per month, and has informed the market of plans to purchase between 4.

The S&P 500 and Nasdaq hit record levels this week, boosted by fresh data showing signs of inflation pressures cooling.

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