"Today's policy decision [to keep asset purchase program on hold] is a bit disappointing"
- Masamichi Adachi, a senior economist at JPMorgan Chase & Co.
Bank of Japan rejected legislators' calls to boost asset purchases for a second consecutive month.
"Today's policy decision is a bit disappointing" to investors anticipating further expansion in liquidity, said Masamichi Adachi, a senior economist at JPMorgan Chase & Co. who used to work at the BoJ.
In the meantime, Ryuzo Miyao's vote in favor of enlarged asset purchases "spurs expectations that the central bank will take action further into this direction," he said.
Stocks closed flat on Tuesday. The Nikkei 225 rose 0.09%, or 9.22, to 9,899.08. The broader Topix gained 0.01%, or 0.05, to 845.33.
© Dukascopy Bank