Bank of Japan to Pump in Extra $130 Billion to Buy L/T JGBs

In a surprise move, the Bank of Japan (BOJ) has decided to add 10 trillion yen ($130 billion) to its asset buying and lending scheme. The central bank has said that it will increase its asset purchase programme from 55 trillion yen to 65 trillion yen, and the entire increase will be earmarked for the purchase of long-term Japanese government bonds.

"The Bank will pursue powerful monetary easing by conducting its virtually zero interest rate policy and by implementing the Asset Purchase Program mainly through the purchase...