Economics
Bank of Japan Ramps Up Stimulus With Pledge for Unlimited Bond Buying
- Central bank vows to buy as many government bonds as needed
- Decision comes as Abe administration submits extra budget
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The Bank of Japan ratcheted up its stimulus Monday in tandem with government measures aimed at preventing the world’s third-largest economy from a virus-triggered collapse.
The central bank promised to buy as many government bonds as needed and more than doubled its buying of corporate debt, as Governor Haruhiko Kuroda tried to show the BOJ was pulling its weight in national efforts to support struggling factory owners, shopkeepers and consumers.