19 September 2012 07:19 [Source: ICIS news]
The program is expected to be completed by around end-2013, according to the Bank of Japan.
The economy grew at an annual pace of 0.7% in the second quarter, with a quarter-on-quarter expansion of 0.2%.
“These measures in pursuit of powerful monetary easing will make financial conditions for such economic entities as firms and households even more accommodative by further encouraging a decline in longer-term market interest rates and a reduction in risk premiums,” the Bank of Japan said.
It said it expects the new measure, along with the cumulative effects of earlier policy measures, “will ensure the return of
The Bank of Japan moves follows stimlus package announced by the US Federal Reserve on 13 September.
($1 = Y78.84)
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