The central bank of Japan kept its monetary policy unchanged, expecting the economy to gradually recover from the Corona pandemic.
According to Reuters, the bank raised the nominal value of its liquidity crunch packages to $ 1 trillion from about 700 billion previously announced last month. p>
In a highly anticipated move, the bank maintained targets to control the yield curve at -0.1 percent for short-term interest rates and zero percent for longer interest.
The bank did not make any significant changes to the companies' financing facilitation programs, including a lending mechanism aimed at pumping money into them.
It is possible that the amount of funds that will be pumped through the program to 110 trillion yen (one trillion dollars) in the event of obtaining additional loans from government programs, according to the bank Central.
Finance Minister Taro Aso praised the central bank for printing more cash and said that the lending facility would undoubtedly lead to an increase in the money supply.
The central bank remained cautiously optimistic, confirming its readiness to facilitate monetary policy again when needed.
He said in a statement that although economic activity will gradually resume, Japan's economy will remain in a critical situation at the present time.
