|
(CEP News) - The Bank of Japan held their target rate at 0.30%, as was widely expected, seeing as the bank cut their already-low rate by 20 basis points just three weeks ago.
In their monetary policy statement, the Bank said they will work to carry out commercial paper operations and fund operations more flexibly, and said they will consider changing corporate debt to collateral for fund operations. The statement said the Japanese economy has slowed down significantly, and that these condition will last for several quarters. Furthermore, they said the outlook for the economy is highly uncertain. The Bank of Japan warned that a receding corporate financing could hurt the economy, and said it will actively inject money into markets for the rest of this fiscal year. By Megan Ainscow,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
