BoJ boosts ETF purchases in face of global uncertainty
Bank of Japan nearly doubles pace of ETF purchases to ¥6tn per year
The Bank of Japan (BoJ) is to almost double the amount of exchange-traded funds (ETFs) it buys each year, from ¥3.3 trillion to ¥6 trillion ($58 billion) in the face of "uncertainties surrounding overseas economies".
Seven of the BoJ's nine policy board members voted in favour of the action today (July 29). Eight voted to maintain the pace of its asset purchases at ¥80 trillion a year, while seven wanted to keep the BoJ's policy rate at –0.1%.
In addition to new ETF purchases, the policy board
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