10/22/2020, 8:38 AM (Source: TeleTrader)
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BoJ ensures Japan's financial system is stable

The Bank of Japan issued a statement on Thursday reassuring that the country's financial system remains stable despite significant uncertainty prompted by the coronavirus crisis.

However, the central bank warned that financial intermediation could be hurt if the economic downfall extends, as the impact of the pandemic is still at a significant level. At the moment, Japan is likely to prevent corporate default increase.

Head of a tax panel led by Japan's ruling party, Akira Amari, revealed earlier in the day that the economy could be backed with an additional $95 billion stimulus through a third budget in December.

Breaking the News / ND