BOJ keeps rates near zero, unveils asset scheme details

(For more stories on the Japanese economy, click [ID:nECONJP])

TOKYO, Oct 28 (BestGrowthStock) – The Bank of Japan kept interest
rates virtually at zero and held off on new policy initiatives
on Thursday, taking a breather after having expanded monetary
easing earlier this month to support a fragile economic

The BOJ also announced details of its asset buying scheme
announced on Oct. 5, saying it would buy 1.5 trillion yen
($18.36 billion) in long-term government bonds and 2 trillion
yen in short-term government securities.

The central bank also said it would bring forward its next
policy board meeting to Nov. 4-5 from Nov. 15-16 to make
arrangements to start buying exchange-traded funds and J-REITs
at an early date.

As widely expected, it decided to keep interest rates
unchanged at a range of zero to 0.1 percent by a unanimous vote.

The BOJ will issue its twice-yearly report on the economic
and price outlook at 3 p.m. (0600 GMT). Governor Masaaki
Shirakawa will then hold an embargoed news conference, with his
comments expected to come out sometime after 4:15 p.m. (0715

At its previous rate review on Oct. 5, the BOJ surprised
markets by pegging interest rates virtually at zero and pledging
to pump more funds into the economy with a 5 trillion yen asset
buying scheme.

Under the scheme, the BOJ will buy assets ranging from
government bonds and short-term government securities to
commercial paper and corporate bonds.
($1=81.69 Yen)
(Reporting by Leika Kihara, Rie Ishiguro; Editing by Edmund

BOJ keeps rates near zero, unveils asset scheme details