Bank Of Japan Buys Record 101 Billion Yen In ETFs To Stabilize Markets

Read more on this subject: Japan
News Story Source: by Tyler Durden
AS a reminder, Friday saw Fed Chairman Powell step in with a rare public statement, in which he stated that "the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy." And yet despite this Greenspan-playbook preview which helped send US stocks soaring in the last minutes of Friday trading, Powell didn't actually do anything over the weekend, as the whispers had had it.

His BOJ colleague, Haruhiko Kuroda, however, was far more aggressive, and on Monday morning, the BOJ also csme out and made clear that it too has noticed that things are not going well (and recall Japan was already in recession, which today's Q4 capex data at -5.0% only underlines), and said that the BoJ would "closely monitor future developments."

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