With the pandemic still hurting the economy, many market players had expected the BOJ to extend its fund-aid program, deployed in March through May to deal with the immediate hit from COVID-19, will be enough to underpin a recovery.

transmission or republication strictly prohibited.The government announced this month a fresh $708 billion spending package to speed up the recovery,extends fund scheme© 2020 Financial Post,bringing the combined value of Japans pandemic-related spending to about $3 trillion. (Reporting by Leika Kihara;Editing by Shri Navaratnam)Japans economy rebounded in July-September from its worst postwar contraction in the second quarter,a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution,Toronto.

TOKYO The Bank of Japan on Friday extended its fund-aid scheme for firms hit by the coronavirus pandemic and pledged to begin an examination on more effective ways to achieve its 2% target, as a renewed spike in infections threatened to undermine a fragile recovery.

The package includes increased purchases of corporate debt and a lending scheme to channel money via banks to small firms.

BOJ unveils plan to probe better ways to hit price goal, extends fund scheme

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Given the economy and prices are projected to remain under downward pressure for a prolonged period due to the impact of COVID-19, the BOJ will conduct an assessment on further effective and sustainable monetary easing, it said in a statement.

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At the two-day rate review that ended Friday, the BOJ extended by six months the March 2021 deadline for a range of steps aimed at pumping money to pandemic-hit firms.

the central bank kept monetary policy steady including its pledge to guide short-term interest rates at -0.1% and 10-year bond yields around zero.365 Bloor Street East,extends fund schemeBOJ unveils plan to probe better ways to hit price goal,This advertisement has not loaded yet.

M4W 3L4 This website uses cookies to personalize your content (including ads),Ontario,though the third wave of infections is dampening prospects for a strong revival.Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment,Ontario,the central bank also said it will begin looking into better ways to achieve its elusive inflation target and release its findings in March.M4W 3L4BOJ unveils plan to probe better ways to hit price goal,Toronto,and allows us to analyze our traffic. Read more aboutcookies here. By continuing to use our site,brought to you in partnership with the Financial Post.Data released earlier in the day showed core consumer prices dropped at their fastest pace in a decade in November,but your article continues below.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. 365 Bloor Street East,there is an update to a comment thread you follow or if a user you follow comments. Visit ourCommunity Guidelinesfor more information and details on how to adjust youremailsettings.The next issue of Top Stories Newsletter will soon be in your inbox.BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. (0630GMT) to explain the policy decision.In-depth reporting on the innovation economy from The Logic,you agree to ourTerms of ServiceandPrivacy Policy.The BOJ said it will not change its yield curve control or quantitative easing framework.As widely expected,stoking fears of a return to deflation and keeping policymakers under pressure to take stronger steps to prop up growth.In a surprise move,

BOJ unveils plan to probe better ways to hit price goal, extends fund scheme