Bank of Japan Governor Haruhiko Kuroda began his campaign to end15 years of falling prices by doubling monthly bond purchases in abid to reach 2 percent inflation in two years.
The BOJ will purchase 7.5 trillion yen ($78.6 billion) of bondsa month and double the monetary base in two years, the central banksaid in Tokyo today. HSBC Holdings Plc. and Nomura Securities Co.said the easing is the nation's biggest yet.
The yen fell the most since October 2011 and stocks surged,signaling Kuroda is winning investors' confidence in a campaign torevive the world's third-biggest economy. The BOJ set a two-yearhorizon for the price goal under a “new phase of monetary easing,”as the governor won the backing of a board mostly appointed by theprevious government.
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