The Bank of Japan (BOJ) concluded its two-day policy meeting on Friday, September 19, 2024, by maintaining its short-term interest rate at 0.5%, a decision that aligned with market expectations. However, the central bank unveiled a significant shift in its asset management strategy, announcing plans to begin selling its holdings of exchange-traded funds (ETFs) and real-estate investment trusts (REITs). This move marks a departure from its long-standing policy of accumulating these assets to stabilize financial markets. Notably, the decision was not unanimous, as board members Naoki Tamura and Hajime Takata expressed dissent. BOJ Governor Kazuo Ueda is scheduled to elaborate on the policy adjustments during a press conference at 3:30 p.m. local time (0630 GMT). The announcement comes amid ongoing efforts by the BOJ to navigate Japan’s complex economic landscape, balancing inflationary pressures with the need for sustained monetary support. Analysts are closely watching the potential market impact of the ETF and REIT sales, which could signal a gradual normalization of the BOJ’s unconventional monetary policies.