Japan's Nikkei Average ends 2% higher at 8,926.54

Discussion in 'Wall St. News' started by ASusilovic, Oct 27, 2011.

  1. LOS ANGELES (MarketWatch) — The Bank of Japan said Thursday it would increase its asset-purchase program by about 5 trillion yen ($65.8 billion), while keeping its policy interest-rate target unchanged.

    The central bank said its policy board voted 8 to 1 to add the funds, with the money earmarked for buying government bonds.

    “For the purpose of further enhancing the spread of monetary easing effect throughout financial markets, the bank judged it appropriate to designate [the funds] ... for the purchase of Japanese government bonds” since lending to corporations was currently “generally smooth.”

    The vote to keep the interest-rate target at 0 to 0.1% was unanimous.