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Kuroda struggles to wean banks off bonds

Net purchases of sovereign debt maturing in 10 years or more reach 1.16t yen in August, the most in 11 months

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UP AGAINST THE WALL: Banks will probably accelerate their efforts to increase holdings of longer-dated debt as the global financial rout pressures them to eke out profits on their bond holdings.

Tokyo

WITH the Japanese economy weakening markedly, banks are flocking to longer-dated government debt on expectations that the Bank of Japan would expand its stimulus programme. That's creating fresh challenges for BOJ governor Haruhiko Kuroda, who's trying to get banks to buy fewer

sentifi.com

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