BoJ balance sheet shows policy normalisation progressing
Analyst says corporate debt sales proceeding, but equities selloff to take over a century at current pace
Newly released data on the changes the Bank of Japan made to its balance sheet in 2025 provide greater detail into how the central bank is pursuing policy normalisation.
The data, published on January 6, shows the bank’s balance sheet shrunk as it reduced its commercial paper holdings by around 47% and its corporate bond holdings by 98% compared with 2024. The BoJ tells Central Banking that these reductions were in line with its plan, announced in March 2024, to gradually reduce and then
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