The decision came as inflation remains stubbornly low in Japan, even as the world’s number three economy has enjoyed seven straight quarters of growth. Governor Haruhiko Kuroda gave few clues about any timeline for pulling back the bank’s huge asset-buying programme, shrugging off market expectations. The Bank of Japan’s massive monetary easing programme is a cornerstone of Prime Minister Shinzo Abe’s “Abenomics” campaign to kickstart the economy after years of torpid growth. Investors were also watching for possible indications on whether Kuroda will stay on as he nears the end of his five-year term. The European Central Bank said in October it would cut bond-buying by half, to 30 billion euros ($37 billion) per month, while the US Federal Reserve in December raised the benchmark lending rate for the third time in a year.

Source: The Guardian January 23, 2018 08:26 UTC