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BOJ to pump $1.4 trillion into economy in unprecedented stimulus

Posted By admin On April 4, 2013 @ 11:24 am In Money Watch | Comments Disabled

Leika Kihara and Stanley White
Reuters [1]
April 4, 2013

(Reuters) – The Bank of Japan unleashed the world’s most intense burst of monetary stimulus on Thursday, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.

New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014 in a shock therapy to end two decades of stagnation.

The U.S. Federal Reserve may buy more debt under its quantitative easing, but with the Japanese economy about one-third of the size of the United States, the scope of Kuroda’s “Quantitative and Qualitative Monetary Easing” is unmatched.

“This is an unprecedented degree of monetary easing,” a smiling Kuroda told a news conference after his first policy meeting at the helm of the central bank.

Full story here. [1]


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URL to article: http://www.prisonplanet.com/boj-to-pump-1-4-trillion-into-economy-in-unprecedented-stimulus.html

URLs in this post:

[1] Reuters: http://www.reuters.com/article/2013/04/04/us-japan-economy-boj-idUSBRE93216U20130404

[2] Bank set to pump £75bn into economy: http://www.prisonplanet.com/bank-set-to-pump-75bn-into-economy.html

[3] Following Bernanke Means Using Precedent of Unprecedented Policy: http://www.prisonplanet.com/following-bernanke-means-using-precedent-of-unprecedented-policy.html

[4] Will Fed Pump More Money as US Economy Sinks?: http://www.prisonplanet.com/will-fed-pump-more-money-as-us-economy-sinks.html

[5] Endless QE? $6 trillion and counting: http://www.prisonplanet.com/endless-qe-6-trillion-and-counting.html

[6] Obama stimulus could reach $1 trillion: report: http://www.prisonplanet.com/obama-stimulus-could-reach-1-trillion-report.html

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