Bank of Japan Eases Monetary Policy to Much Surprise
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The iShares MSCI Japan Index (NYSE: EWJ) is trading higher early Tuesday morning following news the Bank of Japan expanded its asset-purchase program by $129 billion. The Bank also revised the language for its consumer price stability goal to 2 percent or lower over the medium- to long-term, and to 1 percent growth for the near-term time horizon.
The BoJ previously avoided using the word "goal," and instead opted for "understanding."
The decision was related to uncertainties in both Japanese and overseas economic policies.
For the asset purchase program, only one out of 11 analysts expected the BoJ to ease its policy, according to data from Dow Jones Newswires.
The BoJ previously avoided using the word "goal," and instead opted for "understanding."
The decision was related to uncertainties in both Japanese and overseas economic policies.
For the asset purchase program, only one out of 11 analysts expected the BoJ to ease its policy, according to data from Dow Jones Newswires.
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