BOJ Refrains From Adding Stimulus, Spurring Stock Decline
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The Bank of Japan refrained from expanding monetary stimulus as signs of strength in the domestic economy outweighed the threat from Europe’s debt crisis.
The bank expanded its asset-purchase program to 45 trillion yen ($564 billion) from 40 trillion yen, according to a policy statement released in Tokyo today. Seven of 17 economists surveyed by Bloomberg News predicted monetary easing. The loan facility was cut to 25 trillion yen from 30 trillion yen.