01818cas a2200241 a 4500 AALejournalIMF011391 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463924638 1018-5941 BD-DhAAL BD-DhAAL Lam, Waikei. Bank of Japan's Monetary Easing Measures : Are they Powerful and Comprehensive? / Waikei Lam. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary easing measures since late 2009 in response to lingering deflation and a weakening economy. These measures culminated in a new Asset Purchase Program under the Comprehensive Monetary Easing (CME) which differs from typical quantitative easing in other central banks by including purchases of risky asset in an effort to reduce term and risk premia. This note assesses the impact of monetary easing measures on financial markets using an event study approach. It finds that the BoJ's monetary easing measures has had a statistically significant impact on lowering bond yields and improving equity prices, but no notable impact on inflation expectations. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2011/264 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/264/001.2011.issue-264-en.xml IMF e-Library