The ‘summary of opinions’ of the Bank of Japan (BOJ) April monetary policy meeting released today warns the sustainability of the policy could come under the scanner next year, unless the BOJ trims the bond purchases.
It seems the BOJ has already started tapering. Bank of Japan (BOJ) governor Kuroda, while speaking in the parliament, said the pace of JGB buys is around 60 trillion per year now. This is well below the JPY 80 trillion target for Japanese Government Bond (JGB) purchases.
Other key quotes
Need to continue powerful easing
Still a long way to go before 2% inflation target is achieved
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