Business News
Japan central bank extends post-disaster loans, leaves rates alone
Oct 7, 2011, 6:02 GMT
Tokyo - Japan's central bank on Friday extended an emergency loan programme to help rebuild areas struck by March's earthquake and tsunami while holding off on further stimulus measures or interest rate changes.
The Bank of Japan extended the loan programme by six months to April 30 and left the benchmark interest rate unchanged at zero to 0.1 per cent, a level where it has sat since October 2010.
The bank said Japan's economy has continued its recovery since the March disaster but listed a number of uncertainties in its economic future, including the national debt crises in the eurozone and United States, key markets for export-reliant Japan.
Other risks included a yen at post-World War II highs, swings in global stock markets and Japan's continued potential for deflation, it said.
'Japan's economy is expected to return to a moderate recovery path, backed by a moderate increasing trend in exports and by a rise in domestic demand,' the bank said at the end of a two-day Policy Board meeting.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
