Thursday, April 28, 2011

Bank of Japan Holds Rate at 0.10%, Rejects Proposal to Increase Asset Purchases

The Bank of Japan held the benchmark uncollateralized overnight call rate unchanged at 0.10% and made no changes to its 40 trillion yen asset purchase program. The monetary policy council voted against Deputy Governor Kiyohiko Nishimura's proposal to increase the size of the asset purchase program by 5 trillion yen.  The Bank also made further details available on its 1 trillion yen lending scheme for banks in quake-hit areas, noting that banks would be able to borrow a maximum of 150 billion yen and broadened the range of eligible collateral for money market operations for banks in affected regions.


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