Overview

• The central bank set annual ETF sales at about ¥330 billion at book value, roughly ¥620 billion at market prices.
• Governor Kazuo Ueda said the approach is designed to avoid market shock and would take more than 100 years to fully unwind holdings.
• Policymakers kept the policy rate near 0.5% in a 7–2 vote, with two board members proposing an immediate increase to 0.75%.
• Tokyo shares swung sharply, with the Nikkei’s intraday range topping 1,300 points and TSE Prime turnover up about 80% to a record ¥8.75 trillion.
• BOJ ETF holdings total about ¥37 trillion at book value (about ¥70 trillion at market value), and bitcoin eased to just above $116,000 after the announcement.