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BoJ 'won't tolerate zero inflation'

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BoJ 'won't tolerate zero inflation'

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The Bank of Japan has held interest rates at 0.1 percent and said it will not tolerate zero inflation or falling prices.

In a statement the central bank reinforced its commitment to maintain very low interest rates, setting the scene for further easing of monetary policy to fight deflation.

Bond prices shot up on the expectation that the bank could increase government bond purchases.