Bank of Japan ups asset purchases, but declines to raise inflation target

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A link from Bloomberg

Japan’s central bank said it will raise its asset-purchase ceiling to ¥76 trillion ($903 billion), an increase of ¥10 trillion that marks the third such increase in four months. However, the bank kept its 1% inflation target in place, vowing to discuss upping it to the 2% level advocated by newly elected Prime Minister Shinzo Abe when it meets again in January. Largely anticipated by the market, the news failed to counteract fears of stalled fiscal cliff negotiations as the yen climbed for the first time this week.