[$ is up today, too–stocks, gold….the whole kit and caboodle–and best part of all: NO INFLATION-!! Squeeeeeeal-! China has injected an “unfathomable” amount. of new money into the economy, don’t forget–ittle pop someday but until. them it’s all systems. go to the upside, I guess]
Meanwhile, growing fears of a global slowdown (thanks China and Europe) have added to the BOJ’s headaches and shifted the market’s attention away from the likelihood of a future exit from easy-policy, especially as many major central banks have shifted their position over recent months toward an accommodative stance.
Confirming that the BOJ is effectively trapped in perpetuity, Kuroda also said the BOJ had no plans now to stop or review its purchases of ETF, despite growing criticism from market players that the central bank’s huge presence was distorting the market. And while Kuroda conceded the BOJ is now impacting the equity amrket, he added the BOJ will scrutinize the most appropriate means to balance the pros and cons of its policy.
“We will continue our ETF buying while taking into account market moves and the impact on financial institutions, as well as economic and price developments,” Kuroda said.
In other words, nothing will change until one day the market revolts and forces the BOJ to act.