Arab Today, arab today bank of japan to inject 138 bn into economy
Last Updated : GMT 08:14:34
Arab Today, arab today
Arab Today, arab today

Bank of Japan to inject $138 bn into economy

Arab Today, arab today

Arab Today, arab today Bank of Japan to inject $138 bn into economy

Tokyo - AFP

The Bank of Japan on Tuesday unveiled $138 billion in fresh monetary easing, its latest volley in a battle to kickstart an economy it warned would grow much less than previously expected. The BoJ, which also said it would provide new loans to banks, had been under pressure from politicians calling for urgent action, as more data indicated a post-disaster recovery is stalling because of the global slowdown and strong yen. Official data Tuesday showed factory output came in weaker than expected for September, while Japan recently posted its worst September trade figures in more than 30 years, as a territorial dispute with China hit exports. The BoJ said it would expand an asset-purchase programme -- its main policy tool -- by 11 trillion yen ($138 billion) to 91 trillion yen, while keeping rates unchanged at between zero and 0.1 percent. The move its its second since central banks in the United States and debt-hit Europe announced huge policy easing measures in September to stoke growth.The BoJ programme is aimed at injecting liquidity into markets through purchases of government and corporate bonds, and commercial paper. Tuesday\'s expansion was aimed at preventing \"Japan\'s economy from deviating from the path of returning to a sustainable growth path with price stability\", the BoJ said in a statement. A new programme offering \"unlimited\" loans to commercial banks was designed to spur their own lending to businesses and households, it added. However, the new measures came with a warning as policymakers slashed their growth forecast for the fiscal year to March, saying the economy would expand just 1.5 percent, well off an earlier 2.2 percent estimate. The BoJ also said it expects prices to have fallen 0.1 percent in the year to March, instead of the 0.2 percent inflation tipped earlier, suggesting Japan was a long way from winning its battle with deflation that has plagued its economy for years. A rare BoJ-government joint statement said politicians and policymakers were committed to quashing the problem \"as early as possible\". Japan has been stuck in a deflationary spiral -- cutting corporate profits and encouraging consumers to put off new purchases -- with efforts to battle a general trend of falling prices having little impact.Earlier Tuesday, official data showed Japan\'s factory output fell 4.1 percent last month, worse than the 3.1 percent fall expected by the market, with a slump in production of cars, auto parts and machinery leading the downturn. The figures underscored slowing demand for Japanese exports and the impact of a diplomatic tussle with China which has hit the Asian giants\' trade ties. Japan\'s economy, which was hammered by the quake-tsunami disaster on March 11 last year, is also suffering from Europe\'s long-running debt crisis and the strong yen. The Japanese currency hit record highs around 75 on the dollar late last year and remains strong, making exporters\' products more expensive overseas while shrinking the value of their repatriated foreign income. The problem is particularly acute for major export brands such as Japan\'s automakers. Honda Motor said on Monday that the yen\'s strength would dig into its full-year profit, now expected to be about 20 percent lower than previously forecast. Japan\'s jobless rate, meanwhile, remained steady at 4.2 percent in September, largely due to post-disaster reconstruction-related employment, but household spending slipped 0.9 percent on-year, a sign of weakening consumer confidence. Auto production tumbled 12.4 percent last month partly due to a drop in sales in China, the world\'s biggest vehicle market. Japan-China trade has been hurt by a long-standing spat over an East China Sea archipelago, called the Senkakus in Japan and Diaoyu islands in China, which erupted anew after Japan nationalised the chain in mid-September. Japanese factories and businesses across China closed or scaled back operations in September over fears they or their workers could be targeted by mobs protesting against Tokyo\'s move.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of japan to inject 138 bn into economy Arab Today, arab today bank of japan to inject 138 bn into economy

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday