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BOJ decides to taper corporate debt buying, scale back pandemic-relief funding -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A protective mask-wearing man walks past Bank of Japan’s headquarters amid an outbreak of coronavirus disease, COVID-19, in Tokyo. This was May 22, 2020.

TOKYO (Reuters), Upon reaching March 2022, the Bank of Japan decided Friday to lower its corporate debt purchases and to cut back on some of its emergency funding schemes.

The central bank kept its target for short-term interest rates at -0.1%, and the 10-year yield target at around 0%. This was widely anticipated.

Last year, the BOJ increased its purchases of commercial papers and corporate bonds. It also pledged that it would continue to increase its balance by as much as 20 trillion yen ($175billion) through March 2022. The BOJ also created a loan program to channel funds through financial institutions to small businesses.

($1 = 113.7200 yen)

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