Bank of Japan expects inflation to remain short of target for ‘some time'

Bank of Japan

The Bank of Japan (BoJ) policy board voted unanimously to continue asset purchases in a bid to grow the country's monetary base by up to ¥70 trillion ($684 billion) annually, the bank said today in a monetary policy statement.

The BoJ has bought government bonds, exchange-traded funds, real estate investment trusts (j-reits) and corporate bonds on a monthly basis since early last year to prop up inflation after nearly two decades of stagnating and falling prices.

Japan's economy is expected to

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