Bank of Japan stock buying will be hard to unravel

Published: Feb. 6, 2019, 9:56 a.m.

b'The Bank of Japan\\u2019s ongoing purchases of Japanese stocks has warped the country\\u2019s equity markets. Every day it continues will make the eventual unwinding of those holdings harder, both for the central bank and for the markets themselves.\\n\\nIn January 2013, the BOJ introduced a 2% price stability target in an effort to extract the country from more than a decade of stagnant or falling prices. That in itself was a rare move by a central bank. Sayuri Shirai of Japan\\u2019s Keio University explains.\\n\\nRead the transcript\\nhttps://bit.ly/2WJldke\\n\\nRead the working paper\\nhttps://www.adb.org/publications/boj-exchange-traded-fund-purchases-unprecedented-monetary-easing-policy\\n\\nAbout the author\\nSayuri Shirai is a professor at Japan\\u2019s Keio University and a visiting scholar at the Asian Development Bank Institute and served on the Bank of Japan\\u2019s monetary policy board from 2011 to 2016.\\n\\nKnow more about ADBI\\u2019s work\\nhttps://bit.ly/2GsYxyX'