The Bank of Japan held off on further action on monetary easing on Thursday, instead keeping interest rates close to zero and announcing the details of its previously announced plan to buy up assets.
The asset purchase plan, announced Oct. 5, would entail the purchase of $18.36 billion (1.5 trillion yen) in long-term government bonds as well as $24.68 billion in short-term government securities, Reuters reported. When the plan was originally unveiled, the central bank had pledged a sum of $61.67 billion to bolster the economy by buying assets. The plan includes not only long- and short-term government assets but also commercial paper and corporate bonds.
The bank also moved up the next policy board meeting, originally scheduled for Nov. 15-16, to Nov. 4-5, so that it could arrange the purchase of exchange-traded funds and J-REITs.