Monday, August 30, 2010

Superior Gold Group - Japan tries to boost growth

Japan's central bank eased monetary policy at an emergency meeting on Monday, seeking to contain a strong yen and mollify growing political pressure to revive a faltering economy.

The move, which disappointed investors and analysts hoping for bolder action, comes as Prime Minister Naoto Kan prepares a new set of economic stimulus measures.

To boost liquidity, the central bank unveiled a new six-month low-interest loan programme to financial institutions.

Combined with an existing three-month funds-supplying operation worth 20 trillion yen ($236.4 billion), banks will now have access to a total of 30 trillion yen ($355 billion).