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Amid mounting pressure from the government to rein in deflation and the surging yen, the Bank of Japan said Tuesday it would pump some ¥10 trillion into the banking system to keep the economy on a recovery track.

Calling an emergency meeting in the afternoon, the BOJ voted unanimously to offer loans to banks on a fixed interest rate of 0.1 percent against collateral, including government and corporate bonds as well as commercial paper. The central bank also opted to maintain its key interest rate at 0.1 percent.

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