The Bank of Japan on Wednesday said it would force-feed the economy with money as needed, in a bid to wipe out even hints of a collapse in the financial system.
The BOJ Policy Board said it will aim at maintaining a 22 trillion yen to 27 trillion yen balance in the accounts private financial institutions hold at the central bank.
That's a rise from the official target of 17 trillion yen to 22 trillion yen, but means little real change, since the banks' current account balance at the BOJ is already above 26 trillion yen. The central bank's monetary policy currently has a clause allowing it to ignore the upper limit, if deemed necessary.
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