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Response to Tansy_Gold (Original post)

Fri May 4, 2012, 05:10 AM

25. BOJ Expands Asset-Purchase Fund to 40 Trillion Yen (LAST WEEK'S JAPANESE QE)

http://www.bloomberg.com/news/2012-04-27/boj-expands-asset-purchase-fund-to-40-trillion-yen.html

The Bank of Japan (8301) added monetary stimulus for a second time in three months amid mounting calls from lawmakers to redouble efforts to spur economic growth.

The central bank expanded its asset-purchase fund to 40 trillion yen ($494 billion) from 30 trillion yen, according to a statement released in Tokyo today. It also extended the maturity of bonds it buys to 3 years from a two-year limit. All 14 economists surveyed by Bloomberg News predicted an increase in the fund, the central bank’s main policy tool...

“The timing for stimulus isn’t ideal as it looks like the BOJ gave in to political pressure and market expectations,” Masayuki Kichikawa, chief economist at Bank of America Merrill Lynch, said before today’s decision. “The BOJ will probably have to continue easing for at least the next two years as the end of deflation is very far.”

The Bank of Japan left the key rate between zero and 0.1 percent and reduced the 35 trillion yen credit-lending program by 5 trillion yen...

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