IMF paper warns Japan’s QQE may hit the buffers in 2017

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The BoJ

The Bank of Japan (BoJ) has repeatedly stressed it will continue to purchase Japanese government bonds for as long as necessary to achieve its 2% target, but research published on August 3 by the IMF suggests that might not be possible.

The programme of qualitative and quantitative easing (QQE) has seen the BoJ make annual purchases of ¥80 trillion ($644 billion), as well as extending the maturity of purchases from seven years to 7–10 years.

The working paper, by IMF economists Serkan Arslanalp

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