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Bank of Japan vows to buy government bonds 'without upper limit'

Tokyo stocks rise 2.7% after central bank acts to help companies weather pandemic

The Bank of Japan, led by Gov. Haruhiko Kuroda, enacted stimulus measures April 27 to combat the pandemic's effects on the Japanese economy. 

TOKYO -- The Bank of Japan further boosted its monetary stimulus at a one-day policy meeting on Monday, aiming to support the government's efforts to rescue the economy from the effects of the coronavirus.

The BOJ said it will "purchase a necessary amount of Japanese government bonds without setting an upper limit," echoing the language used by the U.S. Federal Reserve last month that it would buy government bonds "in the amounts needed" to support the American economy.

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