Investing.com - The Bank of Japan boosted the size of its asset-purchase program by JPY11 trillion, in an effort to boost slowing economic activity and to counter the strengthening yen, it announced on Tuesday.
The BoJ boosted the size of its asset purchase program by JPY11 trillion to a total of JPY66 trillion. The asset purchase fund has been its main policy tool since October 2010.
Policy makers kept a separate credit loan program at JPY25 trillion. The BoJ also left its policy interest-rate target unchanged in the current range of zero to 0.1%
Following the decision, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.43% to trade at 79.46.
Meanwhile, Asian stock markets were broadly lower. Japan’s Nikkei 225 Index tumbled 1%, Australia’s ASX/200 Index eased up 0.2%, while Hong Kong's Hang Seng Index fell 0.6%.
The BoJ boosted the size of its asset purchase program by JPY11 trillion to a total of JPY66 trillion. The asset purchase fund has been its main policy tool since October 2010.
Policy makers kept a separate credit loan program at JPY25 trillion. The BoJ also left its policy interest-rate target unchanged in the current range of zero to 0.1%
Following the decision, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.43% to trade at 79.46.
Meanwhile, Asian stock markets were broadly lower. Japan’s Nikkei 225 Index tumbled 1%, Australia’s ASX/200 Index eased up 0.2%, while Hong Kong's Hang Seng Index fell 0.6%.