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Bank of Japan bonds are on the verge of growing Japanese economy

Bank of Japan government bonds rose 3.4% year-over-year to 486 trillion yen ($ 4.5 trillion) as of March, which is about 90% more than the country’s economy, central bank data showed on Wednesday.

The balance of bond holdings disclosed in the Bank of Japan earnings report for the fiscal year that ended in March underscores the sheer scale of printing money aimed at reflecting the economy and achieving the elusive inflation target of 2%.

The pace of bond purchases is likely to accelerate this fiscal year after the Bank of Japan promised to buy an unlimited number of bonds to combat the economic impact of the coronavirus pandemic.