MOF, FSA, BOJ Hold Talks amid Market Turmoil

Economy Politics

Tokyo, March 13 (Jiji Press)--The Ministry of Finance, the Financial Services Agency and the Bank of Japan held an emergency meeting Friday as Japanese shares plunged further amid the spread of the new coronavirus.

"Nervous movements are seen in financial markets," Yoshiki Takeuchi, vice finance minister for international affairs, told reporters after the meeting. "We'll watch market movements even more closely and act appropriately if necessary."

Such a three-way emergency meeting was held for the second time this week. The first one took place Monday.

Also on Friday, the Bank of Japan said it will again provide 500 billion yen in short-term liquidity to calm financial markets roiled by the new coronavirus.

The central bank will provide the liquidity by buying government securities from financial institutions with repurchase agreements.

[Copyright The Jiji Press, Ltd.]

Jiji Press