Senior BOJ Official: Don't have any preset idea now on how long BOJ will keep buying ETFs

Dhwani Mehta FXStreet

A senior Bank of Japan (BOJ) official said on Tuesday, “we don't have any preset idea now on how long BOJ will keep buying exchange traded funds (ETFs) at 12-trln-yen per year pace.”

Additional comments

“Will do so for as long as needed with eye on market moves.”

“Various steps BOJ has taken so far to combat pandemic, including paced-up ETF buying, are all temporary measures.”

“BOJ holds roughly 5-6% of Japan shares via its ETF buying, which has book value of around 30 trln yen as of end-March.”

USD/JPY under pressure amid risk-off

Broad risk-aversion is knocking-off USD/JPY below 107.50, extending its decline from near 107.70 region. The above comments fail to have any impact on the yen market.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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