Feb
22nd
Mon
22nd
Shirakawa noted that monetization is happily chugging along: “We are buying JGBs in order to inject ample funds into financial markets in a stable manner and we are buying Y21.6 trillion of JGBs annually” and he made it clear that adjusting for scale differences, the Japanese monetization program is three times faster than the Fed’s Treasury QE - in other words assume that Japan has bought the equivalent of nearly $1 trillion of its own bonds, adjusted for something or another.
