Bank of Japan Balance Sheet Continues Historic Shrinkage
The BoJ's assets fell $98B in Q3 2026 to $3.95T — the lowest since Q1 2020 — representing a $828B reduction since its 2024 peak, with major macro implications for global risk assets.
What we know
An account on X broke down the BoJ's Q3 2026 balance sheet decline: assets fell to $3.95T (lowest since Q1 2020) with an Asset-to-GDP ratio down 28 percentage points from the Q1 2024 peak. The BoJ has now reduced its balance sheet by $828B (–17.4%) in just over 2 years. This unwinding of decades of quantitative easing remains one of the most significant macro risk factors for global equity and crypto markets, as yen carry trades unwind.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.