Japan's central bank is making it easier for cash-strapped companies to get funding in response to the growing economic devastation from the coronavirus pandemic. The Bank of Japan decided at a meeting today to ease monetary policy, including expanding the purchase of commercial papers and corporate bonds, which work to deliver cash to companies. In a move that was widely expected, the central bank also decided to remove the ceiling on its purchases of government bonds. Additional monetary easing may be needed, and the central bank was closely monitoring the situation, it said. Japan has reported about 13,000 coronavirus cases so far, and fewer than 400 deaths.

Source: The Standard April 27, 2020 04:30 UTC