What we feared most immediately after the disaster was a situation in which a deterioration in business sentiment or an increase in investors’ risk aversion in financial markets would lead to an increase in various risk premiums, thereby adversely affecting economic activity.
Accordingly, the Bank decided to increase the amount of the Asset Purchase Program, by doubling its purchases of assets to about 10 trillion yen in total, mainly risk assets such as exchange traded funds (ETFs) and Japan real estate investment trusts (J-REITs).