The Bank of Japan (BOJ) decided Monday to adopt further monetary measures to minimize the negative impact on economy following Friday's catastrophic earthquake.

The Bank of Japan (BOJ) decided Monday to adopt further monetary measures to minimize the negative impact on economy following Friday's catastrophic earthquake.

At a policy meeting, BOJ policymakers agreed to expand its asset purchasing program from 35 trillion yen (426.82 billion U.S. dollars) to 40 trillion yen (487.80 billion dollars) to help stabilize the nation's financial system and aid economic recovery.

The policymakers also voted unanimously to keep its key interest rate unchanged at the range of zero to 0.1 percent and pledged to further ease its monetary grip if necessary.

The central bank will also inject 18 trillion yen into the money markets to help banks and other financial institutions in quake-hit areas raise necessary funds.

The BOJ usually holds two-day policy meetings, but decided to convene a one-day meeting following the great earthquake and ensuing tsunami that have caused heavy casualties and enormous damage in vast areas along Japan's Pacific coast.