Japan’s central bank assets larger than country's GDP

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo. (AP Photo/Eugene Hoshiko)

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo. (AP Photo/Eugene Hoshiko)

Published Nov 13, 2018

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INTERNATIONAL – Japan’s central bank has become the first among G7 nations to own assets collectively worth more than the country’s entire economy, following a half-decade spending spree designed to accelerate weak price growth.

The 553.6 trillion yen (R70 trln) of assets the Bank of Japan holds are worth more than five times the world’s most valuable company Apple and 25 times the market capitalisation of Japan’s most valuable company Toyota (7203.T).

They’re also bigger than the combined GDPs of five emerging markets — Turkey, Argentina, South Africa, India and Indonesia.

Central bank data released on Tuesday showed how much the BOJ has amassed over 5-1/2 years of what it calls “quantitative and qualitative” easing policy.

The BOJ has become the world’s second central bank after the Swiss National Bank and the first among Group of Seven countries to own a pool of assets bigger than the economy it is trying to stimulate.

REUTERS

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