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Bank of Japan holds off further easing measures

Economists believe Bank of Japan Governor Haruhiko Kuroda will have to boost the bank's economic stimulus schemeThe Bank of Japan held off further easing measures on Wednesday despite struggling to drag up flatlining inflation that is defying a massive stimulus launched two years ago. The central bank stayed pat on its record easy money programme, which is adding about 80 trillion yen ($663 billion) to the money supply every year. The BoJ’s inflation target is a cornerstone of Prime Minister Shinzo Abe’s drive to conquer deflation and revive the long-sluggish economy. After a two-day meeting, the BoJ said in a statement consumer inflation was likely to be about zero “for the time being” due to lower energy prices.

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