Posted by: youngragingbull | April 26, 2013

Bank of Japan stands pat on policy

The Bank of Japan held off on any new policy moves Friday, as most economists had expected in the wake of major new easing initiatives at its previous meeting.

In a statement, the Japanese central bank said only that it “will conduct money-market operations so that the monetary base will increase at an annual pace of about 60 [trillion]-70 trillion yen,” or roughly $610 billion to $710 billion, unchanged from its previous target.

The yen rose modestly after the announcement, with the U.S. dollar slipping to ¥98.78 from ¥99.06 just ahead of the statement.

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