Nikkei rises as bank insider claims it could approve more stimulus
City Index January 31, 2013 5:15 PM
<p>The Nikkei 225 has made gains as a bank insider has claimed it could implement even more stimulus.</p>
The Nikkei 225 benchmark in Tokyo closed on a higher footing this morning (January 31st), after one central bank insider claimed the institute could approve more stimulus in the future if needs be.
Deputy governor of the Bank of Japan (BoJ) Hirohide Yamaguchi stated that the financier would implement more monetary easing if warranted by economic and price conditions, Bloomberg reports.
Last week, the BoJ adopted a two per cent inflation target and said it would wait until 2014 to commence an open-ended programme of asset-purchases – moves that have garnered criticism from world leaders as they are suspected to be aimed at deliberately weakening the yen.
Mr Yamaguchi told reporters that the central bank's policies have not been approved to directly depreciate the currency.
At close of play in Tokyo today, the Nikkei rose by 0.2 per cent to an index value of 11138.6 points – a rise of 24.7 points.
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