BOJ Sits

The Bank of Japan (BOJ) on Thursday refrained from announcing fresh stimulus, in a widely-expected decision, despite increasing evidence the recovery in the world’s third-biggest economy is sputtering.

The central bank stuck to its pledge to increase base money by 60-70 trillion yen ($572-$667 billion) per year via aggressive asset purchases, mostly in Japanese government bonds.

One board member, Takahide Kiuchi, proposed making the central bank’s 2 percent inflation target a medium-to-long-term goal but the proposal was turned down by an 8-1 vote.


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