The Bank of Japan announced at a surprise policy board meeting on Tuesday that it would offer up to Y10,000bn ($115bn) in cheap, three-month loans to commercial banks, an easing of monetary policy it said would “firmly support“ Japan’s fragile economic recovery. But the BoJ’s attempt to boost liquidity disappointed markets and was dismissed by critics as a “sideshow” intended to head off growing pressure from the new DPJ-led government for more decisive action to curb deflation and boost growth.

This entry was posted by Gwen Robinson on Wednesday, December 2nd, 2009 at 4:32 and is filed under Capital markets. Tagged with bank of japan. Edit this entry.