BOJ's Coronavirus Relief Steps Expanded to 110 T. Yen

Politics

Tokyo, June 16 (Jiji Press)--The Bank of Japan said Tuesday it has boosted the total size of its corporate financing support steps related to the new coronavirus crisis to some 110 trillion yen.

The decision was announced after the BOJ Policy Board’s two-day monetary policy meeting that ended on the day.

The total was lifted from the originally planned sum of around 75 trillion yen, following Friday’s enactment of the government’s fiscal 2020 second supplementary budget featuring additional measures against the virus outbreak.

The new sum is made up of 20 trillion yen for purchasing commercial paper and corporate bonds and 90 trillion yen for fund supply to financial institutions that mainly support small businesses and sole proprietors.

The central bank also decided to keep its current monetary easing policy unchanged. The Policy Board voted eight to one to keep its short-term policy interest rate at minus 0.1 pct and guide 10-year government bond yields around zero pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press