Bank of Japan agrees to pump another ¥10T ($116B) into the economy using 0.1%, three-month funds...

|By:, SA News Editor

Bank of Japan agrees to pump another ¥10T ($116B) into the economy using 0.1%, three-month funds - an attempt to address growing concern over deflation and a surging yen. The new facility should "further enhance easy monetary conditions" and is designed to "encourage a further decline in longer term interest rates," the BOJ said (.pdf). Analysts called the move "better than nothing," but said it was "relatively weak" compared to expectations.