BOJ unveils special deposit facility to ensure regional financial system stability

Dhwani Mehta FXStreet

The Bank of Japan (BOJ) introduced a "special deposit facility to enhance the resilience of the regional financial system", according to the latest statement released by the Japanese central bank on Tuesday.

“BOJ's special deposit facility aims to ensure financial system stability,” the statement read.

Market reaction

In the face of coronavirus vaccine optimism and the recent appreciation of the yen, the central bank appears to have stepped up support measures.

On the above announcement, the yen lost further ground. USD/JPY drops 0.20% on a daily basis to trade at 105.13, having recovered from daily lows of 104.82.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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