It last traded at 112.83 having soared over 3 percent since the BOJ said it would accelerate purchases of bonds and other assets in an ever-more desperate attempt to defeat deflation. The bold move has raised expectations the European Central Bank will eventually have to bite the bullet on quantitative easing, even if not at its next meeting this Thursday. "In this environment of subdued growth and long-term low-flation, we expect the ECB to announce the purchase of government bonds of euro area member states by early next year at the latest," said Apolline Menut, an analyst at Barclays.
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