Bank of Japan holds fire on more easing

City A.M. Reporter
The Bank of Japan kept monetary policy steady today, following two straight months of easing, despite growing calls for more stimulus.

As expected, the central bank held off from expanding its asset-buying programme from 91 trillion yen (£704bn).

In October, the BOJ said it would increase monetary stimulus by 11 trillion yen (£86bn) in a bid to support its sagging economy.

The BOJ has expanded monetary stimulus four times so far this year through an increase in asset purchases including in October, as the pain from weakening exports and factory output nudge the economy into recession.