By www.CentralBankNews.info The Bank of Japan (BOJ) confirmed that it plans to boost the country’s monetary base – the combination of cash in circulation and banks reserves at the central bank – by 60-70 trillion yen annually.
Last month the BOJ launched a new aggressive policy of “quantitative and qualitative monetary easing” to rid the country of 15 years of deflation by doubling the monetary base and buying over 7 trillion yen of Japanese government bonds a month along with purchases of real estate investment trusts (J-REITs) and Exchange Traded Funds (ETFs).
“At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period:
“The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen,” the bank said in a brief statement.
