TOKYO—The Bank of Japan said it would start to offload its huge portfolio of exchange-traded funds, a sign of growing confidence in the economy despite challenges including President Trump’s tariffs.
The multiyear program of purchases “was a necessary component of the large-scale monetary easing policy implemented to achieve the 2% inflation target,” Gov. Kazuo Ueda said at a news conference Friday. But now, with the economy improving and markets working smoothly, “there was no longer a need to continue the measure,” he said.
