Looking for momentum



It’s been eight months since the Bank of Japan (BOJ) officially unveiled its ground-breaking proposal to purchase asset-backed securities (ABS) from the private sector, and close to five months since the central bank’s first purchases of asset-backed commercial paper. Nonetheless, the scheme – aimed at enhancing the effectiveness of monetary policy and improving credit conditions for the country’s cash-strapped small and medium enterprises (SMEs) – has yet to gain any significant momentum, with

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