The Strategist

Japan brings anti-crisis measures package to $ 1 trillion

06/17/2020 - 06:55

The Central Bank of Japan announced an increase to 110 trillion ($ 1.02 trillion) of a package of anti-crisis measures aimed at stimulating the economy affected by the epidemic of the coronavirus COVID-19.

Earlier, the Japanese Central Bank has repeatedly increased the volume of the stimulus package, bringing it up to 75 trillion ($ 700 billion), the base discount rate in the country is already negative at the level of –0.1%.

At a press conference, Central Bank Chairman Haruhiko Kuroda emphasized that his department is ready to take new measures of assistance if the current ones are not enough to stimulate the country's economy or if the epidemiological situation in the world worsens.

“We cannot exclude the risk of a second wave of the infection,” Head of the Central Bank of Japan noted. “But, if the need for our support is reduced, we can think of a gradual exit (from the regime of assistance. At the same time, we are ready to maintain this support for a long time.”


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