Shedding light on the impact of the Bank of Japan’s exchange-traded fund purchase program
Peer-Reviewed Publication
Updates every hour. Last Updated: 14-Jan-2026 20:11 ET (15-Jan-2026 01:11 GMT/UTC)
The Bank of Japan’s Exchange-Traded Fund (ETF) purchases have had a substantial impact on stock prices. Researchers from Waseda University and the Bank of Japan reveal that the large-scale purchases of ETFs by the Bank of Japan have not only directly pushed up stock prices in the equity market but have also had a significant impact on the securities lending market, offering practical implications that can support decision-making in policy implementation and market activities.
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