JPY: Asset purchases to get harder for the BoJ to make - TDS

Research Team at TDS, notes that the former BoJ Board Member Shirai made a few comments on BoJ policy and said that he expects asset purchases to get harder for the BoJ to make.

Key Quotes

“He didn’t think it was good for the BoJ to buy more ETFs, was against the BoJ setting a monetary base target as a range, but believed there were high chances the BoJ chooses rate cuts over more bond purchases. He also said that it was likely that the BoJ would delay the timing of hitting the CPI goal and downplayed foreign bond purchases as a BoJ tool, an option that Abe’s Advisor Hamada proposed yesterday.”