BOJ’s Kuroda: Will continue buying ETFs as part of its ultra-loose monetary policy

The Bank of Japan (BOJ) will continue buying ETFs as part of its ultra-loose monetary policy, Governor Haruhiko Kuroda said while speaking in parliament on Thursday.

Additional comments

“BOJ’s ETF buying is not directly aimed at propping up stock prices.”

“BOJ is buying ETF to avoid a rise in risk premia from hurting household, corporate sentiment.”

“Don't have any plan to review BOJ’s ETF buying, sell ETF to markets. “

“BOJ ETFs buying is necessary as it is taking time to achieve price goal.”

Market reaction

USD/JPY ignores the above comments, as it continues to hold the lower ground around 104.30 in Asia this Thursday. Focus on US election results and FOMC decision.