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Bank of Japan Unexpectedly Eases

As growth falters, central bank boosts asset-purchase fund by $126 bln.

By Toru Fujioka, Bloomberg | Updated on September 19, 2012

The Bank of Japan unexpectedly expanded its asset-purchase fund by 10 trillion yen ($126 billion), seeking to counter an increasing danger of contraction in the world’s third-largest economy.

The BOJ’s program, in which it buys mainly government debt, or JGBs, was enlarged to 55 trillion yen, the bank said in a statement in Tokyo. Governor Masaaki Shirakawa said the bank also will abandon minimum yields for 1.8 trillion yen in monthly government-bond purchases conducted separately from the stimulus fund, opening the door to the potential for negative rates.

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