BoJ's aggressive move boosts Nikkei and weakens yen

The Bank of Japan's announcement of aggressive growth stimulus measures on Thursday pushed up the flagging Nikkei and caused the yen to fall sharply against the US dollar.

The Bank is set to make an aggressive move to expand its money supply by doubling its holdings of long-dated government bonds, to include maturities as long as 40 years. It has also ruled to end the previously set asset purchasing programme and shift its target when setting monetary policy to base money from the current overnight call rate. The move is set to increase the country's monetary base at an annual pace of about 60 to 70 trillion yen (£498.9bn), the bank said in a statement. Its decision was made unanimously at the debut policy-setting meeting of the incoming BoJ governor...