Published October 31, 2014 8:14am EDT | Updated January 8, 2015 2:47pm EST

Economist Sees Link Between BoJ, Pension Fund Move

The increase in the Bank of Japan's purchases of government bonds -- of 30 trillion yen -- will offset the reduction in JGBs implied by the Government Pension Investment Fund's decision to reduce its allocation to bonds, an economist said. "You could say that the BoJ is financing the GPIF's transition to a more risky asset portfolio," said Raymond Van Der PUtten, an economist at BNP Paribas.