TOKYO: The Bank of Japan on Monday unveiled a series of emergency monetary policy measures to shore up the world’s third-largest economy, as the coronavirus pandemic threatens a global recession.
The bank said it had decided unanimously to “actively” purchase ETFs and J-REITs with an annual upper limit of 12 trillion yen and 180 billion yen respectively. But it left its main interest rate unchanged at minus 0.1% and also kept its upper limit for purchasing government bonds at 80 trillion yen.
The Japanese economy was tottering even before the coronavirus struck, with growing fears of a recession. “Japan’s economic activity is likely to remain weak for the time being, mainly affected by the outbreak of Covid-19,” the BoJ said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: