Q&A: BoJ's Nakaso on QE, JGB liquidity and Basel III
At ¥80 trillion ($668 billion), the annual bond-buying target for the Bank of Japan is roughly twice the country’s planned debt issuance for 2015 – raising questions about how long the programme can continue. Deputy governor Hiroshi Nakaso offers the answers to Risk.net
Market participants have two big worries about the Bank of Japan's (BoJ) bond-buying programme, launched in April 2013: what happens when it stops, and what happens if it doesn't stop?
The first is based on fears that stocks and the economy will slump without the central bank's indirect support; the second reflects concerns that quantitative easing (QE) – expanded in October 2014 to target annual
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