The Bank of Japan (BOJ) surprised the markets on Friday by announcing an expansion of their monetary stimulus program in an attempt to fight deflation and boost a faltering economy. Currently the Japanese economy is suffering from low growth and weak consumer spending. The BOJ hope the latest measures will weaken the Yen and boost exports.

In an unprecedented move the BOJ will ramp up their asset buying program from 60 trillion Yen a year to 80 trillion Yen. More startling was the BOJ decision to intervene directly into the Japanese stock market by purchasing shares in ETF’s and property investment funds.

The announcement resulted in the Tokyo stock market surging over 4%.

BOJ Chairman, Harukiko Kuroda, said the new measures would head off a deflationary spiral and reconfirmed his commitment to do everything in his power to lift inflation to 2%.

The announcement came only 48 hours after the Federal Reserve announced they are to end QE. Surprisingly the gold price fell on Friday.