BoJ’s Ueda: BoJ’s ETF buying is helping underpin consumption and capex

Bank of Japan (BoJ) Governor Kazuo Ueda said on Wednesday, “the BoJ’s ETF buying is helping underpin consumption and capex by preventing volatile market moves from hurting public confidence.”

Additional quotes

Too early to debate specific ways in which BoJ could sell ETFs.

When BoJ were to sell ETFs, they will likely be sold on market value.

We are not in stage to engage in discussions on how boj will exit easy policy.

When achievement of price target is near, we will debate exit strategy and communicate it appropriately.

It will take some more time to stably, sustainably meet BoJ's price target.

Market reaction

At the time of writing, USD/JPY is trading modestly flat at around 135.25, unperturbed by the above comments.