The Bank of Japan’s Policy Board failed to impress with the additional monetary “stimulus” announced today. Any market impact from the ¥10 trillion increase in outright purchases of JGBs was offset by an extension of the period over which the buying will take place and by a reduction of ¥5 trillion in the cheap loans available to financial institutions under the Bank’s fixed-rate funds supplying operation. The wider economic impact will also be negligible.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.