Monday, March 14, 2011

Bank of Japan Holds Rate at 0.10%, Expands Asset Purchase Program

The Bank of Japan announced an expansion to its asset purchase program of 5 trillion yen, taking the total to 40 trillion yen ($486 billion), while holding its monetary policy rate unchanged at 0-0.10%. The move followed the powerful 8.9 earthquake which struck Japan on Friday, causing tsunamis and damage to nuclear power plants. Japanese stocks fell about 5% when the market opened on Monday. The Bank also said it would inject as much as 15 trillion yen ($183.8 billion) into money markets to stabilize the financial system.

Monetary Policy Announcement:
Amendment to Asset Purchase Program:


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