May 12, 2020 / 2:26 AM / a month ago

BOJ has no preset idea on when to normalise ETF buying pace - senior official

TOKYO, May 12 (Reuters) - The Bank of Japan has no preset idea now on when it would slow its purchases of exchange-traded funds (ETF) back to normal, a senior central bank official said on Tuesday.

As part of its monetary easing steps decided in March, the BOJ pledged to double the annual pace of ETF buying to 12 trillion yen ($111.65 billion) as a temporary measure to stabilise markets jolted by the coronavirus pandemic.

The BOJ holds roughly 5-6% of the country’s shares through its ETF purchases, which had a book value of around 30 trillion yen as of end-March, Shinichi Uchida, an executive director at the central bank, told parliament. ($1 = 107.4800 yen) (Reporting by Leika Kihara Editing by Chang-Ran Kim)

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