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Bank of Japan maintains aggressive monetary easing

Tokyo - The Bank of Japan said Friday it had decided to continue its aggressive monetary easing measures to prop up the nation's economy and overcome chronic deflation.

The bank maintained its overall economic assessment, saying the economy "has been recovering moderately," according to a statement released after a two-day monetary policy meeting.

The central bank decided in April to adopt aggressive monetary easing steps to achieve inflation of 2 per cent within about two years.

Prime Minister Shinzo Abe and the bank’s governor Haruhiko Kuroda vowed to pull the Japanese economy out of 15 years of deflation.

Consumer prices rose 0.9 per cent in October compared with a year earlier for the fifth straight month of rise, on higher electricity and gasoline prices, amid a fall in the yen.//DPA

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