TOKYO, April 27 — The Bank of Japan expanded monetary stimulus today for the second straight month to ease corporate funding strains and finance huge government spending aimed at combating the deepening economic fallout from the coronavirus pandemic. The move puts the BoJ in line with other major...
Sources have told Reuters the BoJ is likely to take further steps to ease funding strains for companies whose sales have collapsed, such as boosting purchases of corporate bonds and commercial debt. — Reuters pic
The BoJ boosted the maximum amount of corporate bonds and commercial paper it pledges to buy to a combined ¥20 trillion from around ¥7 trillion. At the meeting today, cut short by a day as a precaution against the spread of the pandemic, the BoJ kept its interest rate targets unchanged, as had been widely expected.Under a policy dubbed yield curve control, the BoJ targets short-term interest rates at -0.1 per cent and 10-year bond yields around 0 per cent. It also buys government bonds and risky assets to pump money aggressively into the economy.
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