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BOJ Unexpectedly Boosts Easing Amid Weak Price Gains
The Bank of Japan unexpectedly boosted its unprecedented monetary easing and will increase purchases of riskier assets in a renewed effort to reflate the world’s third-biggest economy. In the first policy change since Governor Haruhiko Kuroda began record asset purchases in April last year, the BOJ said it is targeting an 80 trillion yen ($726 billion) expansion in the monetary base, up from 60 to 70 trillion yen before, according to a statement in Tokyo today. The board was split 5 to 4 on the decision. Only 3 of 32 economists surveyed by Bloomberg News forecast the BOJ would expand stimulus today. Kuroda is ... (full story)
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