(Corrects currency conversion in the fifth paragraph.)
Nader Naeimi, the Sydney-based head of dynamic asset allocation at AMP Capital Investors Ltd., which manages $126 billion, comments in a telephone interview today after the Bank of Japan (8301) announcement.
Bank of Japan Governor Haruhiko Kuroda began his campaign to end 15 years of deflation with a strengthened stimulus program that will see the central bank buy 7 trillion yen ($73 billion) of bonds a month:
“It’s quite an aggressive move and it shows the Bank of Japan is more serious than they’ve ever been. They are already quite close to doing open-ended quantitative easing, anyway, and they are likely to announce that later in the month.
‘‘They have announced a lot more than I thought they would. There’s more to come. They’ve announced a whole bunch of positive moves.”
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