日央行行长：要卖掉所持ETF将需要100多年时间，并未考虑将回购ETF作为货币政策工具

Core Viewpoint - The Bank of Japan is preparing to sell its holdings in ETFs and J-REITs, which could take over 100 years at the current pace of sales, indicating a significant shift in monetary policy strategy [1] Group 1: ETF and J-REIT Holdings - The Bank of Japan has accumulated ETF holdings amounting to 35 trillion yen since it began purchasing them in 2010, particularly increasing purchases after the 2013 monetary easing [1] - The central bank has halted new ETF purchases after exiting large-scale stimulus last year, but it is now considering the sale of these assets [1] - The plan for ETF sales includes flexibility to halt the process if necessary, and there are no current plans to use ETF repurchases as a monetary policy tool [1] Group 2: Economic Impact and Inflation - The Bank of Japan's governor noted that tariffs are currently affecting manufacturers' profits but have not yet impacted capital expenditure, wages, or employment trends in Japan [1] - Core inflation in Japan remains below the 2% target but is approaching it, with caution advised regarding the downward price risks associated with tariffs [1] - Overall, the Japanese economy is experiencing a mild recovery, with price trends aligned with the targets for the second half of the year, and real interest rates remaining very low [1]