From a recent Reuters article titled “Japan government piles pressure on BOJ ahead of October 30 meeting”:
Japan's government piled fresh pressure on the central bank to expand monetary stimulus on Tuesday, as the economics minister said he wanted to attend a rate review meeting next week to reiterate a call for bolder action to bolster an economy wounded by both the global slowdown and a diplomatic row with China.
But Jojima said there is no truth to a media report that the government is requesting the central bank to increase asset purchases by 20 trillion yen ($251 billion) to bolster economic growth.
Central bank independence is tenuous and often under tremendous pressure during bad times.
Ex-post, from a Bloomberg article on October 30th titled “Bank of Japan Expands Stimulus as GDP Poised to Decline: Economy”
The Bank of Japan expanded its asset-purchase program for the second time in two months, a move that failed to cheer investors as stocks slumped amid mounting evidence that the economy contracted last quarter.
The fund will increase by 11 trillion yen ($138 billion) to 66 trillion yen while a separate credit loan program will stay at 25 trillion yen, the bank said in Tokyo, acting hours after data showed the biggest decline in industrial output since last year’s earthquake. The BOJ will also offer unlimited loans to banks to boost credit demand.
For those keeping track, the BOJ increased the program by 11 trillion yen instead of the falsely reported government request of 20 trillion yen.