Thursday, April 26, 2012

Bank of Japan in fresh $123bn stimulus to boost growth

yen notes

The Bank of Japan (BOJ) has increased its stimulus programme for the second time in as many months in a bid boost the country's economic growth.

The central bank said it would expand its purchase of Japanese government bonds by 10tn yen ($123bn; £76bn).

The move comes as Japan's economy continues to struggle amid a slowdown in key export markets such as the US and eurozone and weak domestic demand.

The BOJ also left rates unchanged at between zero and 0.1%.

"The bank is trying to send a message that they are supporting the market and the economic recovery, just like they did in February," said Masamichi Adachi of JP Morgan Securities.



Source & Image : BBC

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