The Bank of Japan surprised global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April. The jolt from the BOJ, which had been expected to maintain its level of asset purchases, came as the government signalled its readiness to ramp up spending to boost the economy and as the government pension fund, the world's largest, was set to increase purchases of domestic and foreign stocks. BOJ Governor Haruhiko Kuroda portrayed the decision as a preemptive strike to keep policy on ... (full story)