BOJ Stimulus ‘Quite Aggressive’, AMP’s Naeimi Says

(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.”

To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net

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