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BOJ expands monetary stimulus to defend economy from coronavirus

Japan's central bank doubles ETF and REIT targets as it starts new lending program

Bank of Japan Governor Haruhiko Kuroda said the central bank will buy ETFs " twice as much as before and for as long as necessary" in a news conference in Tokyo on March 16. (Photo by Kai Fujii)

TOKYO -- The Bank of Japan expanded its monetary stimulus at a hastily called one-day policy meeting on Monday, joining other central banks rushing to support a global economy hit by the spreading coronavirus.

The BOJ will bolster its asset-buying program, expanding purchases of stocks, corporate bonds and corporate commercial paper, while also boosting its loan support program to help businesses deal with any liquidity issues.

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