Posted by: youngragingbull | April 4, 2013

Bank of Japan ups quantitative and qualitative easing

The Bank of Japan announced Thursday it plans to begin new quantitative and qualitative monetary easing programs to help bolster the lagging economy.

The central bank said it would hike purchases of Japanese government bonds to an annual pace of “about 50 trillion yen” ($530 billion), buy bonds of all maturities rather than the previous three-year-from-maturity limit, increase purchases of exchange-traded funds and real-estate investment trusts, and terminate its previous asset-purchase program.

The announcement lifted stocks, with the Nikkei Stock Average paring its 1.7% loss to a 0.3% fall while the yen tumbled against the U.S. dollar.

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