The Bank of Japan (BOJ) kept monetary policy unchanged on Wednesday, but cut its core consumer inflation projections issued three months ago, largely due to a collapse in global oil prices.
As expected, the BOJ pledged to increase the monetary base at an annual pace of 80 trillion yen ($676 billion) through purchases of government bonds and risky assets.
It also extended the March deadline of two loan programs, both aimed at nudging banks to lend more instead of sitting on their pile of cash, by one year. It increased the size of one of the programs by 3 trillion yen, to 10 trillion yen.
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