Daiju Aoki, Tokyo-based economist at UBS, says that the Bank of Japan is likely to ease further in July rather than October … sees more BOJ easing when it becomes clear there’s no longer a realistic path to inflation at 2%

Says policy options include:

  • Accelerated JGB buying of around 10t yen ($84.7b)
  • Purchasing ABS and other risk asset classes, in addition to ETFs and JREITs
  • Cutting interest rate on excess reserves to close to zero from 0.1%
  • Buying hedged foreign bonds

via Bloomberg

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Re “Cutting interest rate on excess reserves to close to zero from 0.1%”. I reckon 0.1 is pretty close to zero.