BOJ Pulls Back From Risk Asset Buying in Sign of Normalization
- Bank on track to buy no J-REITs in 2023, a first since 2010
- Minimal ETF buys also show BOJ paring its unconventional steps
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The Bank of Japan is on track for zero purchases of real estate investment trusts this year and its smallest annual haul of exchange-traded funds since 2010 as it continues to stealthily tiptoe in the direction of more conventional policy.
The central bank has yet to step into the J-REIT market this year as of Nov. 21, after purchases every year since 2010 to help lower risks in the property market. Separately, the BOJ has bought ETFs, another risk asset, just three times so far this year as the stock market soared to a 33-year high.