Ueda speech: Still need some time to consider what to do with BoJ’s ETF holdings

Speaking before the Japanese parliament on Tuesday, Bank of Japan (BoJ) Governor Kazuo Ueda said, the central bank “still need some time to consider what to do with BoJ’s ETF holdings.”

Additional quotes

Must think about valuation and market rout risks when offloading BoJ’s ETF holdings.

BoJ’s massive JGB holdings have stock effect that would slightly lower long-term yields.

BoJ’s JGB holdings would continue to have stock effect since reduction pace is extremely slow.

Japan's output gap stands around zero, no big difference BoJ’s and cabinet office's estimates.

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