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

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 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 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.

In a statement released after the meeting, the BOJ said, “Japan’s economy has been in an extremely severe situation due to the impact of the novel coronavirus.”

[Copyright The Jiji Press, Ltd.]

Jiji Press