 This policy has been named Abenomics, as a portmanteau of economic policies and Shinzō Abe, the current Prime Minister of Japan.On 31 October 2014, the BOJ announced the expansion of its bond buying program, to now buy ¥80 trillion of bonds a year.According to the International Monetary Fund (IMF), the quantitative easing policies undertaken by the central banks of the major developed countries since the beginning of the late-2000s financial crisis have contributed to the reduction in systemic risks following the bankruptcy of Lehman Brothers.