Vladimír Urbánek (Kurzy.cz)
Markets  |  April 04, 2013 09:34:04

Bank of Japan hardens and shocks - the amount of asset purchases will be doubled, changing surgical instrument, maturity is extended, a significant minority will go into ETFs and real estate

Bank of Japan announced that its asset purchases will henceforth doubled to a total of about 7 billion yen per month (74 mld.USD). The Japanese reacted further weakening currency, the Japanese equity markets on the contrary growth. During 1Q buying assets averaged range 3.4 trillion yen a month. Yearlong framework to increase the monetary base will continue to be 60-70 trillion yen = about 655 to 755 billion dollars.

Increasing the volume of asset purchases is the first pro-growth measures under the new Governor of the Central Bank Haruhiko Kuroda. BoJ wants to do everything necessary to overcome years of deflation to inflation of 2% within two years.

BoJ also noted that changes its main operational tool of the current short-term over-night CP on the "monetary base". BoJ estimates that the measures taken will increase by the end of 2014, the central bank's balance sheet by about 270 billion yen.The average length of maturity of assets to be purchased will be around 7 years. So far, the average maturity moved at 3 years.
BoJ also said that under the asset purchase monthly plans about 1 trillion yen to 30 trillion or a year to invest in ETF funds and real estate trusts.

Analysts indicate an increase in the volume of assets and presented the inflation target at a very aggressive stimulus measures.

Nikkei 225 stock index in response to the growing by more than 2%. From mid-November index reinforces the already 45%.
The Japanese currency weakened by 2.4% immediately.

Related news:
ECB rates also zero movement, waiting to escort ...
Bank of England keeps rates and the purchase of assets in. ..
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Bank of Japan přitvrzuje a šokuje - objem nákupu aktiv se zdvojnásobí, změna operačního nástroje, splatnosti se prodlouží, nezanedbatelná část půjde do ETF a realit

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