BOJ sets 2 pct inflation target, ups asset buying

Japan's central bank sets 2 pct inflation goal, ups asset buying in fresh moves to spur growth

Associated Press

TOKYO (AP) -- Japan's central bank has wrapped up a policy meeting by pledging more aggressive action to boost the economy, including setting a 2 percent inflation target.

The Bank of Japan said it would conduct "open-ended" asset purchases to help achieve the goal of breaking out of a long spell of deflation.

Prime Minister Shinzo Abe has been lobbying the central bank to ease monetary policy further to help the recession-struck economy escape from years of falling prices known as deflation.

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