BOJ reaffirms aggressive monetary easing

Tokyo

THE Bank of Japan (BOJ) yesterday resolved to stand firmly behind its aggressive monetary easing programme, virtually guaranteeing a further downward slide in the value of the yen in the light of this week's decision by the US Federal Reserve to begin tapering its massive bond-buying programme.

The Japanese central bank offered a hint that it might be prepared to ease further in certain circumstances while officials were at pains to stress that the BOJ's mega monetary easing will not necessarily be scaled back even if the 2 per cent inflation target is attained within about two years from now.