IPFS News Link • Japan
Bank Of Japan Shocks Market, Shuns Government Pressure:
• Zero HedgeExpectations 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...