Amid mounting speculation about when and how the BOJ will exit its ETF purchasing program, many specific exit strategies have already been proposed by outside observers. One concern, however, is that these proposals prematurely delve too deeply into details. What is needed as a first step is an overarching blueprint, not disjointed specific ideas.

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About the Author

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  Katsutoshi Takehana

  Senior Researcher

  Financial Market & Innovation Research Department