Japan govt: Expect BOJ to pursue bold steps under new leadership

TOKYO, April 3 Tue Apr 2, 2013 10:24pm EDT

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TOKYO, April 3 (Reuters) - The Bank of Japan is expected to pursue bold monetary policy under new leadership, the Japanese government said on Wednesday.

Japan's Deputy Chief Cabinet Secretary Hiroshige Seko, speaking to reporters, said the government will leave it up to the central bank to decide the policy step details as the central bank is independent.

At the two-day rate review that ends on Thursday, the BOJ will likely start open-ended asset purchases immediately, rather than from 2014, and increase bond purchases from the current roughly 2 trillion yen ($21 billion) per month, sources familiar with the bank's thinking have told Reuters.

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