Japan's central bank is further loosening its already super-easy monetary policy by expanding its asset purchase program by about 10 trillion yen ($119 billion).
The Bank of Japan, ending a two-day policy board meeting Thursday, said it is enhancing monetary easing so its asset purchase program will now total about 101 trillion yen ($1.2 billion). Japan's benchmark interest rates are already at zero.
The economy has been stuck in stagnation for two decades. The pro-business conservative party, voted back into power in Sunday's elections, is expected to boost public-works spending.
The head of the Liberal Democratic Party, Shinzo Abe, is expected to be picked prime minister by parliament next week. He has been pressuring the central bank to work more closely with the government to revive the economy.
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