Ex-BOJ’s Shirai: ‘What the BOJ is doing is implicit tapering’

Former BOJ board member Shirai crossed the wires now, via Reuters, speaking on the BOJ bond-buying plans.

Key Quotes:

"What the BOJ is doing is implicit tapering. That was probably the BOJ's key aim in revamping its policy framework last year. They knew it was getting more difficult to maintain the current pace of bond buying"

“The BOJ may briefly increase its nond buying when yields are rising as is the case now but I don't think it will be forced to keep buying at a pace well above 80trln yen to control yields as there's always strong appetite for JGBs in the market"