BOJ keeps policy on hold, rejects speeding up open-ended JGB purchases

The Bank of Japan kept monetary policy unchanged on Thursday and upgraded its assessment of the economy, as the central bank prepares to install a new governor and two new deputy governors tasked with doing more to end deflation.

BOJ board member Sayuri Shirai proposed bringing forward open-ended purchases of government debt originally scheduled to start next year and combining those purchases with another scheme in which the BOJ buys JGBs to ensure smooth market operations.

The proposal was rejected 8-1.

via Business feed http://www.scmp.com/business/economy/article/1185357/boj-keeps-policy-hold-rejects-speeding-open-ended-jgb-purchases