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Bank of Japan boosts stimulus programme
The Bank of Japan injected 10 trillion yen (£73bn) to its asset purchase programme in an attempt to revive growth, as it faces increasing pressure from the country’s next leader to beat deflation.
Shinzo Abe, whose opposition Liberal Democratic Party won Sunday’s election by a landslide, has put the central bank’s independence on the line by repeatedly calling for a binding two per cent inflation target, double its current price goal.
Under pressure from Abe, the central bank delivered its another dose of monetary stimulus and boosted the asset-buying programme to 101 trillion yen.
The BOJ has expanded its monetary stimulus programme five times this year.