The Bank of Japan on Monday started the process of buying ¥1.2 trillion worth of long-term government bonds under its new monetary easing program to flood the financial markets with cash.
The central bank plans to buy ¥6.2 trillion worth of government bonds with maturities of over five years in five rounds of market operations this month, kicking off an asset-buying binge designed to stoke 2 percent inflation in two years.
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