TOKYO (AFP) - The Bank of Japan on Tuesday further eased monetary policy, increasing its asset purchase programme by 10 trillion yen (S$164 billion) to about 65 trillion yen, as it looks to end deflation.
It also said its policy board voted unanimously to keep the key interest rate unchanged at between zero and 0.1 per cent.
'For the time being, the bank will pursue powerful monetary easing by conducting its virtually zero interest rate policy and by implementing the Asset Purchase Program mainly through the purchase of financial assets,' the BoJ said in a statement.
The easing, which follows a similar step in October, is intended to help nudge the year-on-year inflation rate to 1.0 per cent, the bank said.
It also said its policy board voted unanimously to keep the key interest rate unchanged at between zero and 0.1 per cent.
'For the time being, the bank will pursue powerful monetary easing by conducting its virtually zero interest rate policy and by implementing the Asset Purchase Program mainly through the purchase of financial assets,' the BoJ said in a statement.
The easing, which follows a similar step in October, is intended to help nudge the year-on-year inflation rate to 1.0 per cent, the bank said.
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