Asia Bond Fund gains from the Rising Sun
(Japan) - The Bank of Japan (BOJ) is contributing US$100 million to an Asian fund being established by regional central banks for investing in FX denominated Asian Government bonds.
The "Asia Bond Fund", the first such collegiate effort by Asian central banks to pool their foreign reserves, is seen as a step towards creating a region wide bond market to support Asian countries reduce dependence on US and European bond markets in their debt financing.
BOJ will contribute its funding through its FX asset account currently totalling some 4.25 trillion yen (US$35.57 billion).
BOJ will contribute its funding through its FX asset account currently totalling some 4.25 trillion yen (US$35.57 billion).
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