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Bank of Japan pledges $14 billion boost to money market

Latest update : 2008-09-22

The Bank of Japan said it would inject $14 billion to stabilize the fragie global financial market, for the second time in a few weeks, just after the stock market opened. .

The Bank of Japan said Monday it had injected another 1.5 trillion yen (14 billion dollars) into money markets to help stabilise the international financial system after recent turmoil.

The Bank of Japan (BoJ) announced the move on its website shortly after the opening of the stock market, which was sharply higher on news of a US rescue package for the financial sector.

The BoJ is one of six major central banks that pledged last week to coordinate monetary action to ensure a flow of liquidity after the collapse of investment giant Lehman Brothers.

The Japanese central bank injected 11 trillion yen into the system last week.

Date created : 2008-09-22

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