BOJ Eases Policy as Authorities Intervene to Stem Yen’s Advance
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The Bank of Japan added monetary stimulus after authorities intervened to stem an advance in the yen to protect the nation’s economic recovery.
The central bank expanded its asset-purchase fund to 15 trillion yen ($189 billion) from 10 trillion yen, according to a statement in Tokyo today. It also expanded a credit facility by 5 trillion yen to 35 trillion and kept its benchmark interest rate near zero. It ended the meeting a day earlier than scheduled after the government intervened.