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ABENOMICS

Bank of Japan Shocks Markets

At least one central bank is capable of pleasant surprises. On Thursday the Bank of Japan astonished markets by announcing a dramatic change in policy involving quantitative easing to meet a 2 percent inflation target. The bank will double its holdings of government bonds through open-ended asset purchases and buy over $75 billion of long-term government bonds per month.

April 4, 2013 8:27 AM