BoJ loosens in bid to appease government


The Bank of Japan (BoJ) bowed to political pressure on Tuesday, loosening monetary policy in a bid to temper relations with the ruling Democratic Party of Japan.

The central bank, which has come under fire as perceptions persist that it is keen to tighten policy, introduced a new open market operation at an unscheduled meeting.

The central bank said the operation, which will provide three-month loans at the 0.1% policy rate, would "encourage a further decline in longer-term interest rates in the

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