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The Bank of Japan announced a new stimulus program on Friday.
FOX’s Ashley Papa reports from Tokyo, Japan:
I’m Ashley Papa in Tokyo, for FOX News Radio.
The Bank of Japan meeting just wrapped up and they did a lot more than just hiking interest rates.
The BOJ lifted the asset purchases from 80 trillion to 90 trillion yen a year, an increase of almost two trillion yen. They also announced a set of increases to the inflation target to 2%, saying that they are trying to build a stronger economy and one where they can withstand future economic reversals. The central bank is worried that with inflation reaching 1.2%, it’s unlikely they can reach that goal and say it will instead be around 1% for the next decade.
Here in the U.S., many market participants are watching the market for any signs that the Federal Reserve is becoming less likely to hike rates next month.
The Dow is falling about 30 points in early trading, the S&P 500 is up 2 points, and the Nasdaq is higher by 4 points.
I’m Ashley Papa, FOX News Radio.
Follow Ashley Papa on Twitter: @AshleyMPapa
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