TOKYO (AP) -- Japan's central bank has opted for a modest expansion of its lavish monetary stimulus to help perk up sluggish growth and combat deflation.
The Bank of Japan ended a policy meeting on Friday by announcing it will expand purchases of assets from financial institutions to help inject more cash into the economy and pursue its 2 percent inflation target.
The central bank said it would almost double its annual purchases of exchange traded funds, to 6 trillion yen ($57 billion) from the current 3.3 trillion yen.
The BOJ already is injecting about 80 trillion yen ($760 billion) a year into the economy through asset purchases, mainly of Japanese government bonds.
The central bank did not change its benchmark interest rate, which is now at a record low minus 0.1 percent.