Author Topic: Bank of Japan panicking  (Read 402 times)

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Offline Matthew

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Bank of Japan panicking
« on: August 09, 2007, 10:14:52 PM »
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  • Bank of Japan injects one trillion yen into money markets
    Posted: 10 August 2007 1015 hrs


    TOKYO: The Bank of Japan injected one trillion yen (8.5 billion US dollars) into money markets Friday amid fresh credit woes over the US sub-prime mortgage sector.

    "We offered one trillion yen ... as we judged it would be better to offer (ample) funds," a spokesman for the central bank said.

    The sum is up from 400 billion yen the bank pumped Thursday and the highest since it offered one trillion yen on June 29.

    The latest injection followed the European Central Bank's move Thursday to inject a record 94.8 billion euros (130.2 billion US dollars) into the eurozone banking market to help lenders shaken by the US sub-prime mortgage crisis. - AFP/ac
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