Bank of Japan stimulus move 'exceeded expectations'

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The Bank of Japan has said it will dramatically expand the country's money supply, as it tries to stimulate growth in the world's third-largest economy.

The central bank vowed to boost an asset purchase programme and meet a 2% inflation target in two years, after a two-day meeting, the first chaired by new governor Haruhiko Kuroda.

Japan's economy has been battling more than a decade of falling prices.

The BBC's Rupert Wingfield-Hayes said that the Bank of Japan's announcement of such a bold strategy had exceeded the expectations of many analysts.

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