Meanwhile, Japan's central bank, the Bank of Japan (BOJ) left its interest rates unchanged at between zero to 0.1%.
For its part, the Bank of Japan (BOJ) has set previously a target of a 1% rate of inflation, but it has said it may only be able to achieve that in the 2014-15 financial year.
Interestingly, the yen has strengthened at a time of increased speculation that the Bank of Japan (BOJ) will finally purchase government bonds directly from the Ministry of Finance, effectively monetizing mounting domestic debt, a move caused by numerous unsuccessful stimulus measures and falling tax revenue.
That alone gave the Bank of Japan (BoJ) reason to act on October 5th.
Trying to provide some sort of diversion was the scheduled Bank of Japan (BoJ) meeting.
Despite all of the hype, the Bank of Japan (BoJ) meeting failed to deliver what investors had been expected.
On Thursday, the Bank of Japan (BOJ) added 5 trillion yen to its asset purchase program, adding more liquidity to the economy.
FORBES: Japan Intervenes To Curb Yen's Strength After Record High
The Bank of Japan (BoJ) has raised its forecast for both economic growth and inflation this year in its twice yearly report.
The Bank of Japan (BOJ) has lowered short-term interest rates all the way to 0%, but deflationary pressures persist and the economy isn't growing.
Japanese shares have risen and the yen weakened on reports that Haruhiko Kuroda is likely to be nominated as the next Bank of Japan (BOJ) governor.
After falling steadily for months, deprecating -15% since September, the next step for the Yen should be mapped out by the Bank of Japan (BoJ) this week.
It will buy Japanese government bonds with maturities of up to 40 years, seeking to push the average duration of Bank of Japan (BoJ) bond holdings to seven years, from the current three years.
To tackle the strength of the yen, and other issues facing the economy such as decades of deflation, Mr Abe has been pressing the Bank of Japan (BOJ) to implement bold monetary easing policies.
With an unknown as finance minister, economic policymakers arriving in Tokyo will be pleased to find at least one familiar face in Masaaki Shirakawa, who has led the Bank of Japan (BoJ) since 2008.
ECONOMIST: Japan gives a lesson in how not to handle economic diplomacy
The Bank of Japan (BoJ) is joining others in what could be dubbed a new era for central banks, as ailing economies and massive debt loads have eroded the barrier of independence and essentially pushed monetary policymakers into trying to spark growth via stimulus, as the debate on the effectiveness of those policies ranges on.
FORBES: The Real Deal On Japan's New QE Bazooka And Why The Yen Trade Broke Down
That includes setting an inflation target of 2% - double that of the Bank of Japan's (BOJ) current target.
The Bank of Japan joined the crowd of central banks further easing their monetary policies, as the BOJ Wednesday announced an aggressive monetary stimulus program amid what it says is a global economic slowdown.
The Bank of Japan overnight joined the crowd of central banks further easing their monetary policies, as the BOJ announced an aggressive monetary stimulus program amid what it says is a global economic slowdown.
The Bank of Japan started a two-day meeting, at which the BOJ may introduce some fresh monetary stimulus.
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Asian stocks were mixed Monday, with Asian traders awaiting the Bank of Japan meeting on Tuesday, which is expected to see the BOJ announce further monetary stimulus measures for the Japanese economy.
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