Japan's central bank pumps emergency funds into money market for 18th day
10/10/2008 16:47
The Bank of Japan (BOJ) poured 4.5 trillion yen into the Tokyo money
market today in a bid to regulate the market in short-term finance between banks
and other financial institutions.
Following the separate injections of 2
trillion yen and 1.5 trillion earlier in the day, the central bank added another
1 trillion yen into the market, making the total sum the largest amount in a
single-day operation.
The input of liquidity came for the 18th consecutive
working day of emergency operation in response to a jump of overnight call money
rates to 0.73 percent, which stood well above the BOJ's 0.5 percent target, amid
global financial market upheavals triggered by the collapse of US investment
bank Lehman Brothers.
Xinhua
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