Japan's central bank injects 2.5 trillion yen more into money market
18/9/2008 17:46
The Bank of Japan (BOJ) today poured 2.5 trillion yen (US$23.9 billion)
into Tokyo's money market to regulate the market.
The BOJ pumped 1.5 trillion
yen this morning, followed by another 1 trillion yen later in the day. Thus,
from Tuesday to today, the aggregate amount of fund injected into the market has
reached 8 trillion yen.
The input of the money came for a third straight day
of emergency operation following two previous day's injection of 2.5 trillion
yen and 2 trillion yen respectively amid global financial market upheavals,
including the collapse of US investment bank Lehman Brothers.
Yesterday, BOJ
governor Masaaki Shirakawa hailed the US Federal Reserve's bailout of troubled
American International Group Inc. (AIG) as the "right decision," saying that the
market turbulence worldwide was not to destabilize Japan's financial
system.
As countermeasures against the deterioration of Japan's financial
situation, the BOJ retained its benchmark interest rate at 0.50 percent in
addition to the input of money into short-term financial market.
Xinhua
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