Monday, Apr 21, 2014Monday, Apr 21, 2014
News
 

Bank of Japan meeting expected to usher in fresh easing measures

Published on Jan 22, 2013 9:58 AM
PRINT EMAIL
 
Bank of Japan (BOJ) Governor Masaaki Shirakawa (centre) and board members attending policy meeting in Tokyo on Tuesday. The BOJ wrapped up a two-day policy meeting with the under-pressure central bank widely expected to usher in fresh easing measures aimed at boosting the nation's limp economy.  -- PHOTO:AFP

TOKYO (AFP) - The Bank of Japan wraps up a two-day policy meeting pm Tuesday with the under-pressure central bank widely expected to usher in fresh easing measures aimed at boosting the nation's limp economy.

The yen has been in a steep decline as markets bet the BoJ will inflate its 101 trillion yen (S$1.38 trillion) asset-buying programme in what would be the first time in nearly a decade that the BoJ has expanded monetary policy after two consecutive policy meetings.

An expansion of the programme, the bank's main policy tool with rates near zero, would also be its fourth major move since September after the BoJ's US and European counterparts ushered in huge measures to battle slowing growth.

Japan's new government, led by the hawkish Shinzo Abe, swept to power last month on a pledge to fix the economy with big spending and pressure the BoJ into aggressive action to kickstart the world's third-largest economy.

 
If you are not a subscriber, you can get instant, unlimited access here