IMF: allowing assets to run to maturity best exit strategy

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An IMF paper published in May looks at Japan's experience of managing an exit strategy from unconventional monetary policy and finds the Bank of Japan was able to avoid losses, market disruptions, and yield spikes by holding most of its asset purchases to maturity.

In response to the global crisis, central banks in several advanced economies ventured beyond traditional monetary policy using a variety of unorthodox measures, including purchases of public and private assets, to enlarge their

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