Bank of Japan releases lacklustre stimulus measures

The Bank of Japan today voted to keep interest rates on hold at -0.1% and keep its asset purchasing programme on course at Y80tn dashing hopes of a further Y28Tn increase on the current package. The BoJ did vote in increase its ETF purchasing programme by Y2.4tn and doubled the size of its USD lending programme with a commitment to further review the entire package at the next meeting. The Nikki 225 retreated 1% on the news and the Yen rallied 1.8% against the dollar as markets saw the announcement as underwhelming.