Economics
BOJ Ups Stimulus in Busy Week for World’s Biggest Central Banks
- Fed, ECB also hold scheduled policy meetings this week
- The three institutions cover almost half of the global economy
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Global central banks remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases.
The U.S. Federal Reserve, Bank of Japan and European Central Bank, which together cover almost half of global output, all convene meetings of policy makers this week after the pandemic-driven freezing of economies and turmoil in financial markets propelled them into action.