RPT-BOJ keeps rates near zero, unveils asset scheme details

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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 recovery.

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
GMT).

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
Klamann)

RPT-BOJ keeps rates near zero, unveils asset scheme details