This September, the Bank of Japan (BoJ) will conduct the first comprehensive review of its controversial quantitative easing (QE) programme. Encompassing record low interest rates and a government bond-buying programme, QE - along with a stimulus package and structural changes - is part of a three-pronged economic policy dubbed 'Abenomics' after its instigator, prime minister Shinzo Abe. Launched in April 2013, its goal is to spur lending - and therefore spending -to kick-start economic growth in the country and increase inflation to 2%. Despite successive expansions of the policy, to date Abenomics has failed to hit those targets. This is reflected in the balance sheets of the country's banks, key players in delivering the Abenomics plan.
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