BoJ likely to expand QQE programme in Q4

The BoJ is expected to expand its open-ended QQE programme in Q4 2015 by increasing the monetary base by JPY 90trn (18% of GDP) per year. Currently the monetary baase per year is JPY 80trn. 

Even with a rebound in oil prices, the 2% inflation target seems difficult to reach in the medium term given the current QQE programme. 

The BoJ has said it might purchase more risky assets. The QQE will likely remain in place beyond the forecast horizon, says Nordea Bank.