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Bank of Japan holds back on further economic stimulus

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Bank of Japan holds back on further economic stimulus

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The Bank of Japan held back from offering any further economic stimulus, despite weak inflation and poor global growth.

The decision sent the yen to a two-year-high.

The Bank of Japan said it was in close contact with other central banks and the Bank of England to prepare contingency plans to calm the financial markets if Britain votes to leave the EU.

Japanese policymakers
fear a Brexit will push up the yen further as investors search for safe havens putting pressure on Japanese exports.

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