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Banks

Japan's Amari: BOJ steps intended to allow smooth implementation of QQE

Japan's Economics Minister Akira Amari, who retained his post after a cabinet shuffle, arrives at Prime Minister Shinzo Abe's official residence in Tokyo, Japan, October 7, 2015. REUTERS/Yuya Shino

TOKYO (Reuters) - Japan’s economics minister said on Friday the central bank’s decision to extend the duration of its government debt portfolio is intended to allow the bank to smoothly implement quantitative easing.

Akira Amari, speaking to reporters, also said he expects the Bank of Japan to continue to take steps to meet its 2 percent inflation target.

The BOJ extended the duration of its government bond purchases on Friday and set up a new scheme to purchase more exchange-traded funds to encourage capital expenditure.

Reporting by Stanley White; Editing by Sam Holmes

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