Bank of Japan Auctions $30 billion
Published September 25th, 2008
The Bank of Japan has carried out an auction to provide dollar funds, its first such operation, in an attempt to ease pressure on money markets.
The move came after the BOJ joined five other central banks in the coordinated action announced last week to provide up to $180 billion to interbank markets around the world, where the cost of borrowing dollars has surged as banks have become increasingly cautious about extending fresh loans.
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