March 16, 2011
It’s another day for the BOJ, which more than anything is hell bent on preventing a rerun of last night’s tumble in the futures to a 7 handle. The solution: add another several trillion into money markets. Following Monday’s ¥15 trillion plunge protection deposit, and yesterday’s ¥8 trillion, just announced was the first tranche for tonight, which amounted to ¥3.5 trillion. And so the total involve to prevent the market from plunging a more 1,000 points is now ¥26.5 trillion, or $325 billion.
The Bank of Japan on Wednesday pumped another 3.5 trillion yen ($43.3 bln) into the financial system, adding to the trillions spent Monday and Tuesday to soothe shaken markets
This article was posted: Wednesday, March 16, 2011 at 4:36 am