Economics
BOJ Offers Earthquake-Aid Loans, Downgrades Economic Assessment
This article is for subscribers only.
The Bank of Japan unveiled a lending program to help companies in areas affected by the nation’s record earthquake, while voicing concern the disaster may depress economic growth in coming months.
The BOJ unveiled the 1 trillion yen ($12 billion) facility as board members downgraded their economic assessment for the first time since October. The bank held the benchmark overnight rate at a range of zero to 0.1 percent and kept unchanged a credit program and an asset-purchase fund that represent its main policy tools.