The Bank of Japan is expected to expand monetary stimulus on Monday for the second straight month to ease corporate funding strains and finance huge government spending aimed at combating the deepening economic fallout from the coronavirus pandemic.
Japanese bank tellers wearing protective face masks work at counters behind plastic curtains in Tokyo, Japan, April . Photograph: Kim Kyung-Hoon / Reuters Such a move would put the BOJ in line with other major central banks that have unleashed unprecedented amounts of monetary support amid the health crisis. Sources have told Reuters the BOJ is likely to take further steps to ease funding strains for companies whose sales have collapsed, such as boosting purchases of corporate bonds and commercial debt. The central bank may also clarify its commitment to buy unlimited amounts of government bonds by scrapping loose guidance to buy them at an annual pace of ¥ (tn) US $ bn) per year, say sources familiar with its thinking.
Removing the guidance will be largely symbolic, they say. The BOJ has only purchased less than ¥ tn per year, as the bank’s huge presence in the market allows it to control yields with fewer purchases.
China has reported no new coronavirus deaths on April – the same as the day before.
It reported three new mainland cases, compared to 26 the previous day and (asymptomatic cases, compared to the day before, and two new imported cases, compared to five the day before.
Mainland China now has an accumulated total of , 978 cases. It also recorded a total of 4, deaths as of the end of April 40, including one more death in Beijing in the tally that was previously unaccounted for.
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