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Exclusive: BOJ’s JGB holdings top 500 t. yen

  • May 28, 2020
  • , Jiji Press , 7:47 p.m.
  • English Press

Tokyo, May 28 (Jiji Press)–The Bank of Japan’s holdings of Japanese government bonds have topped 500 trillion yen for the first time ever, Jiji Press learned Thursday.


The amount may grow further to match the country’s nominal gross domestic product totaling some 552 trillion yen as of the end of March as the central bank plans to boost its JGB buying to address the economic fallout from the coronavirus pandemic.


The outstanding amount of the BOJ’s JGB holdings nearly quadrupled from some 130 trillion yen as of April 2013, when the bank introduced a massive monetary easing policy to achieve 2 pct inflation.


In April this year, the BOJ scrapped the ceiling of its JGB purchases as part of joint efforts with the government to fight the pandemic.


In a joint statement released by Finance Minister Taro Aso and BOJ Governor Haruhiko Kuroda on Friday, the government and the bank said they “will work together to bring the Japanese economy back again on the post-pandemic solid growth track.”


But the BOJ’s massive JGB purchases have raised concerns that the practice will lead to the central bank’s financing of government debts and hurt the functioning of the bond market.



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