Bank of Japan to buy $112.55b ETFs for COVID-hit firms

It will also create a loan programme to spur lending to COVID-hit firms.

The Bank of Japan (BOJ) has relaxed its monetary policy by promising to buy exchange-traded funds (ETFs) at double the current pace, reports Reuters.

It will “aggressively” purchase ETFs annually at around $112.55b (JPY12t), double the amount it had originally vowed.

It has also decided to create a new loan programme to extend one-year, zero-rate loans to spur lending to COVID-hit firms.

It will also allot $18.8b (JPY2t) for additional purchases of commercial paper and corporate bonds.

Here’s more from Reuters.

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