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IPFS News Link • Japan

Bank Of Japan Shocks Market, Shuns Government Pressure:

• Zero Hedge

Expectations were extremely high heading into tonight's BoJ decision, and market liquidity disappeared with massive violent swings in FX, rates, and equity markets before Kuroda unleashed his disappointing statement:

*BANK OF JAPAN TAKES ADDITIONAL ACTION

*BOJ EXPANDS PURCHASES OF ETFS TO 6T YEN

*BOJ DOUBLES USD LENDING PROGRAM TO $24B

But...

*BOJ MAINTAINS POLICY BALANCE RATE AT MINUS 0.100%

*BOJ BOARD VOTES 7-2 TO KEEP NEG RATE UNCHANGED

*BOJ MAINTAINS MONETARY BASE TARGET AT 80T YEN

Finally, details are emerging of the stimulus package, NHK reporting:

~7.5t yen of fiscal spending

~6t for fiscal investment and loan financing program

15,000 yen handouts for low-income people

10.7t yen for infrastructure spending such as maglev line, ports

10.9t in SME support to weather Brexit

And most fascinatingly...