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

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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