The Bank of Japan on Thursday ramped up its offensive to power the world's third-largest economy as it faces heavy pressure from the country's incoming government to loosen monetary policy.
Bank of Japan (BoJ) Governor Masaaki Shirakawa is surrounded by reporters after his meeting with Liberal Democratic Party (LDP) leader and incoming prime minister Shinzo Abe, at the LDP headquarters in Tokyo, on December 18, 2012. The BoJ launched fresh easing measures on Thursday after wrapping up a two-day policy meeting as it faced heavy pressure for more stimulus to spur the economy.
The move to expand an asset-buying programme -- its main policy tool -- by 10 trillion yen ($119 billion) to 101 trillion yen came days after the conservative Liberal Democratic Party won a weekend election promising to boost spending and pressure the central bank for aggressive action.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.