Japan central bank ups asset buys to aid economy - 13 WTHR Indianapolis

Japan central bank ups asset buys to aid economy

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TOKYO -

Japan's central bank has eased monetary policy by expanding a government bond-buying program, acting to spur growth following news of a further decline in industrial production.

The Bank of Japan's policy board voted unanimously Tuesday to increase the asset purchasing program by $139 billion to $1.15 trillion.

The central bank decided against any change in its key interest rate, which remains at 0 percent to 0.1 percent.

The bond-buying program is intended to encourage borrowing and spending and help make Japan's exports more competitive.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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