BoJ is sometimes described as doing “stealth tapering” in slowing down its asset purchases. But Governor Haruhiko Kuroda told the parliament that the slowdown in purchases is different from Fed’s tapering.
He said “the Fed’s tapering is conducted intentionally and in several stages, as part of a normalization of monetary policy.” However, “the slowdown in our government bond buying is different from the Fed’s tapering”.
Also Kuroda reiterated the message that there is no need to take additional easing. Instead, BoJ would maintain the current program patiently as it takes time to lift inflation to target.
