Nikkei Down Nearly 5%
March 14th, 2011Bloomberg: Bank of Japan Will Add $146 Billion to Stabilize Markets After Earthquake
—
Pump It: Bloomberg: Japan Adds $86 Billion to Stabilize Markets After Quake:
The Bank of Japan began pouring cash into the banking system after the nation’s most powerful earthquake on record, while later today it may keep its asset- purchase plans unchanged as officials gauge the longer-term effect on the world’s third-largest economy.
Governor Masaaki Shirakawa told reporters late yesterday he’s ready to unleash “massive” liquidity, and the BOJ said today it will pump 7 trillion yen ($86 billion) to maintain financial stability. Economists said officials will likely decide to keep longer-term credit programs at a total of 35 trillion yen. The bank’s main interest rate has already been cut to near zero as policy makers last year sought to end the nation’s deflation.
—
Trade is orderly. Rolling blackouts will exclude central Tokyo, where the Tokyo Stock Exchange is located.
Down 527.47 (5.14%)
—
Monitoring…
-501.09 (4.89%)
