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BOJ Loosens With Pledge to Review Inflation Objectives: Economy

The Bank of Japan expanded its asset-purchase program for the third time in four months, and will reconsider its objectives for inflation as incoming Prime Minister Shinzo Abe urges more action to end price declines.

The central bank increased the asset-purchase fund to 76 trillion yen ($906 billion) from 66 trillion yen, according to a statement released in Tokyo today. The BOJ kept its credit lending program unchanged at 25 trillion yen.