(MENAFN- Qatar News Agency) Kyo june 13 (qna) - the bank of japan said on friday it had decided to pursue its current policy of aggressive monetary easing to overcome deflation and prop up the world's third-largest economy.
the bank "will conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen" it said in a statement after a two-day policy meeting.
consumer prices jumped 3.2 per cent in april from a year earlier after tokyo raised the sales tax to 8 per cent on april 1 from 5 per cent for the first hike in 17 years dpa reported.
the price jump marked the 11th straight month of increase the government said.
japan's economy grew at an annualized rate of 6.7 per cent in the january-to-march quarter the government said monday in a revision to the preliminary estimate of 5.9 per cent.(qna)
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