The Bank of Japan on Thursday decided to boost the size of the asset purchases by JPY 5 trillion to JPY 45 trillion for end-June 2013, while keeping purchases of government bonds unchanged.
At the same time, the credit loan program was cut by JPY 5 trillion to JPY 25 trillion. The total size of the asset purchase program remained unchanged at JPY 70 trillion.
The central bank slightly lowered the growth forecast for the economy to 2.2 percent in fiscal 2012 from 2.3 percent projected in April. The outlook for fiscal 2013 was left unchanged at 1.7 percent.
The inflation forecasts for fiscal 2012 was cut to 0.2 percent from April's projection of 0.3 percent. The 2013 forecast remained unchanged at 0.7 percent.
The benchmark uncollateralized overnight call rate was kept unchanged at 0-0.1 percent.
by RTT Staff Writer
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