BoJ revamps monetary policy to raise inflation to 2%

04/4/2013 | Reuters · Bloomberg · CNBC · Financial Times (tiered subscription model)

The Bank of Japan's policymaking committee has voted unanimously to overhaul its framework, backing programmes aimed at halting deflation and driving inflation up to 2%. The central bank's holdings of long-term government bonds and exchange-traded funds will be doubled, and bonds of all maturities will be purchased, the BoJ says. The committee has approved money market operations that will increase Japan's monetary base at an annual rate of 60 trillion to 70 trillion yen.

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