Adding up the purchases through such operation and those through the Program, the Bank is going to purchase a large amount of JGBs until the end of this year at the pace of 3.3 trillion yen per month, or about 40 trillion yen per year.
At the end of last year, the amount of JGBs held by the Bank was 66.1 trillion yen, representing 14.2 percent of nominal GDP. Although you may have the impression that the U.S. Federal Reserve has aggressively purchased government bonds, its holdings at the end of last year were  BIS central bankers’ speeches  5  10.8 percent of nominal GDP.