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The new team nominated to head the Bank of Japan (BoJ) will not be able to drag the nation out of its rut and will be no more successful than the present team in halting deflation, according to a poll of analysts and traders.
Japan's central bank raised the amount of excess cash in the financial market Wednesday to up to 22 trillion yen (US$187 billion) to try to help along a stagnant economy.
The Bank of Japan (BoJ) said Tuesday it would ease monetary policy to support the economy because of uncertainties arising from the SARS outbreak and stock and foreign exchange market instability.