The Bank of Japan has a self-imposed rule that its holdings of longer-term Japanese government bonds cannot exceed the value of bank notes in circulation. Incoming governor Kuroda says officials will review the rule.
That puts the amount of central bank QE into perspective. What`s even more surprising.
Iwata, who has been nominated as a deputy, pointed out that the Fed already buys bonds worth 1.5 times the banknotes in circulation.
