A top Japanese economist today said the country will undergo “unprecedented” and “very large-scale” monetary easing this year as the central bank aims for the newly set two per cent inflation target.

To hit the target, the BoJ “will pursue aggressive monetary easing” through such measures as a virtually zero interest rate policy and purchases of financial assets, Bank of Japan Policy Board member Yoshihisa Morimoto said in a speech in the south-western city of Kochi.

The BoJ will supply more than 50 trillion yen in fresh funds for its asset purchase and loan support programmes over the next one year, he said, adding the central bank will make “timely and appropriate policy decisions” going forward.

(This article was published on February 20, 2013)
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