Japan’s central bank on Monday made Y21,800bn available to financial institutions and doubled its asset-buying programme to Y10,000bn in a bid to stabilise markets following the earthquake disaster.
In its largest one-day liquidity operation to calm markets, the Bank of Japan said it would make Y15,000bn ($184bn) available immediately and a further Y6,800bn over the next two days to deal with any rise in demand for funds.
The BoJ said its decision to double the asset-buying programme was taken “with a view to pre-empting a deterioration in business sentiment and an increase in risk aversion in financial markets from adversely affecting economic activity”.
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