Archive for March 14th, 2011

Central Bank Watch

Bank of Japan Eases Policy to Counter Earthquake Effects

March 14, 2011

Following a 4 hour, 44 minute meeting, the Bank of Japan released a statement that took several actions to “maintain financial intermediation function an secure smooth fund settlements.” 15 trillion yen ($183 billion) of liquidity (80% of which were same-day delivery) were injected to “maintain financial intermediation function and secure smooth fund settlements.”  Excess balances […] More

New Overnight Developments Abroad - Daily Update

Bank of Japan Takes Many Actions to Support Economy and Markets

March 14, 2011

Across-the-board strength has seen the dollar rise 0.7% against the Australian dollar, 0.5% relative to the euro, 0.4% versus the Swiss franc, 0.3% against sterling, 0.2% versus the yen, kiwi and yuan and 0.1% against the Canadian dollar. Japan’s Nikkei plunged 6.2% and well below 10K and to its lowest level since early November.  Stocks […] More