The Bank of Japan's monetary policy decision is out.
First, the Bank of Japan said it will adopt a 2 percent inflation target, which was widely expected.
Second, the BoJ announced an aggressive open-ended asset purchase plan, which will begin in January 2014. It'll purchase 2 trillion yen worth of JGBs per month and 10 trillion yen worth of T-bills per month. This is according to Bloomberg Television.
This aggressive policy was the platform on which Shinzo Abe was re-elected to his post as Prime Minister.
Expectations for a weak yen, inflationary policy has traders around the world shorting the yen while, going long Japanese stocks.
More From Business Insider
- 23 Things The Bank Of Japan Could Still Do To Weaken The Yen Even More
- REPORT: The Bank Of Japan Is Considering Open-Ended Quantitative Easing
- JIM O'NEILL: I Can't Recall The Last Time The Bank Of Japan Has Been Under This Much Pressure From Corporations
- Investment & Company Information