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Bank of Japan Steps Up Stimulus

Central bank doubles its bond purchases in first Kuroda easing salvo.

By Toru Fujioka and Masahiro Hidaka, Bloomberg | Updated on April 04, 2013

Bank of Japan Governor Haruhiko Kuroda began his campaign to end 15 years of falling prices by doubling monthly bond purchases in a bid to reach 2 percent inflation in two years.

The BOJ will purchase 7.5 trillion yen ($78.6 billion) of bonds a month and double the monetary base in two years, the central bank said in Tokyo today. HSBC Holdings Plc. and Nomura Securities Co. said the easing is the nation’s biggest yet.

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