BOJ to double financial aid for small businesses hit by coronavirus pandemic – Jiji
|The Japanese media outlet, Jiji Press, reported on Wednesday, the Bank of Japan (BOJ) is considering doubling its financial aid to the small businesses struggling to combat the impact of the coronavirus pandemic.
Key details
“The BOJ aid will total some 100 trillion yen.”
“Will act in lockstep with the government to support small firms facing the fallout from the pandemic.”
“BOJ is expected to decide on the additional aid at its next monetary policy meeting on June 15-16 at the earliest.”
“BOJ will provide 0% loans to commercial banks that extend interest-free, unsecured lending to client companies under the government’s coronavirus relief package.”
Market reaction
USD/JPY extends its corrective slide from two-month highs of 108.85, as the US dollar loses further ground across the board amid the relentless risk-on rally seen on the global stocks.
At the moment, the spot drops 0.20% to 108.45.
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