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BOJ Scraps Super-Loose Monetary Policy

3, 09. 2006

The Bank of Japan decided to end its five-year-old super-loose monetary policy, known as quantitative easing. The decision was made in the BOJ Policy Board held on Mar. 9. The Board figured out that Japan’s economy is surely stepping out of deflation, as the consumer price index (CPI) showed year-on-year gains for the fourth month running.

The central bank, however, continues the zero-interest-rate policy for the time being, in order to prop up the economic climate. The policy change shows the fact that Japan’s economy is on the track of recovery, and that it is expected to maintain steady growth.

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