Bank of Japan meeting expected to usher in fresh easing measures
Published on Jan 22, 2013 9:58 AM
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.
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