Rates: BoJ maintains pace of asset purchases; RBA holds steady
Monetary policy held firm in Japan and Australia
Japan: The Bank of Japan's (BoJ) monetary policy board voted today to maintain the pace of its asset purchase programme, continuing towards its target of a ¥60 trillion–70 trillion ($554 billion–$646 billion) annual increase in the monetary base.
The BoJ has been under pressure to do more to boost the economy, as growth turned negative in the second quarter of 2014 and inflation continues to fall short of the central bank's 2% target, currently standing at around 1.25%. The central bank
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