Bank of Japan to inject up to $30 bn into mkts
The Bank of Japan said on Monday it had injected another $14 billion into money markets to help stabilise the international financial system. US financial crisis
By Agencies |
| Eight days that shook the world |
TOKYO: The Bank of Japan said on Monday it had injected another 1.5 trillion yen ($14 billion) into money markets to help stabilise the international financial system after recent turmoil.
According to media report the bank may infuse up to $30 billion into money markets. This would be the first time in the history that a government makes such a big intervention in the market.
The Bank of Japan (BoJ) announced the move on its website shortly after the opening of the stock market, which was sharply higher on news of a US rescue package for the financial sector.
The BoJ is one of six major central banks that pledged last week to coordinate monetary action to ensure a flow of liquidity after the collapse of investment giant Lehman Brothers.
The Japanese central bank injected 11 trillion yen into the system last week.
According to media report the bank may infuse up to $30 billion into money markets. This would be the first time in the history that a government makes such a big intervention in the market.
The Bank of Japan (BoJ) announced the move on its website shortly after the opening of the stock market, which was sharply higher on news of a US rescue package for the financial sector.
The BoJ is one of six major central banks that pledged last week to coordinate monetary action to ensure a flow of liquidity after the collapse of investment giant Lehman Brothers.
The Japanese central bank injected 11 trillion yen into the system last week.
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