30 October 2012 10:49 [Source: ICIS news]
After announcing a cut in its GDP growth forecast on Tuesday, the Bank of Japan (BOJ) said it will further expand its asset purchase programme by yen (Y) 11,000bn ($138bn) to Y91,000bn, to be completed in end-2013, in a bid to boost domestic activities in the world’s third largest economy.
"The Bank of Japan judged it appropriate to undertake further aggressive monetary easing policies in order to prevent
“Thereafter, however, the economy has been weakening somewhat as exports and industrial production have decreased, reflecting the fact that overseas economies have moved deeper into a deceleration phase,” it added.
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