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Bailout

: Calculated Risk

Bank of Japan eases monetary policy

By Anonymous

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From the WSJ: Bank of Japan Cuts Key Rate

The Bank of Japan [announced] a 35 trillion yen ($418 billion) monetary easing program ... while cutting interest rates to virtually zero. It also launched a 5 trillion yen program to buy private- and public-sector assets.

... the BOJ said the new program was designed to "encourage the decline in longer-term interest rates and various risk premiums to further enhance monetary easing."

The central bank acknowledged its move was "an extraordinary measure for a central bank." Bank of Japan Gov. Masaaki Shirakawa said Tuesday that the central bank's [decision] was based on a worse-than-expected outlook for the domestic economy.

The Japan central bank will be buying corporate debt in addition to government debt.

Full post as published by Calculated Risk on October 05, 2010 (boomark / email).

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