Japan's central bank keeps its benchmark interest rate unchanged at zero to 0.1%, increases lending facility by 2T yen to total of 5.5T yen to spur growth

Cindy Allen

Cindy Allen

TOKYO , March 13, 2012 () – Japan's central bank is allowing companies in disaster-struck areas an extra year to pay back debts and adding more money to lending to encourage growth.

The Bank of Japan at a policy board meeting that ended Tuesday kept its benchmark interest rate unchanged at zero to 0.1 percent.

It increased its "growth supporting funding facility" that provides cash to spur growth by 2 trillion yen ($24 billion) to 5.5 trillion yen ($67 billion).

Last year's March 11 earthquake and tsunami, which set off a nuclear crisis in northeastern Japan, has set back Japan's recovery from the recession that followed the global financial crisis.

The central bank extended the debt payment deadline by one year at companies in disaster areas to April 30, 2014.

AS-image © 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.