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Japan central bank aims for market confidence

Japan's central bank has injected a record 7 trillion yen ($US85.7 bn) into the short-term money market, in an attempt to build confidence three days after a devastating earthquake and tsunami.

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Source: AFP


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Japan's central bank has injected a record 7 trillion yen ($85.7 bln) into the short-term money market, in an attempt to build confidence three days after a devastating earthquake and tsunami.

The fund provision is the largest ever in a single operation by the Bank of Japan.

"We will take every possible measure, including providing liquidity, to ensure the stability of financial markets and smooth settlements (of business deals)," a bank spokesman said.

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The Nikkei share index was down 5.2 percent shortly after Monday's opening.


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