The port of Tokyo. Following the lead of their counterparts in the United States, Japan’s central bankers announced on Tuesday what they called a groundbreaking effort to reinvigorate the country’s long-moribund economy and defeat deflation. With no room left to cut interest rates and previous steps unsuccessful, the Bank of Japan is taking a page from the Federal Reserve’s playbook and will pump trillions more yen into the economy by directly buying government bonds and other assets.
Pictures from the Week in Business
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