“Funding assistance is the top priority for new corona countermeasures” BOJ announced its opinion May 11 at 10:49
On the 11th, the Bank of Japan announced the main opinion given at the monetary policy meeting at the end of last month when it decided to make additional monetary easing, saying that the worsening of corporate performance is getting serious due to the spread of new coronavirus. There was a series of opinions that financial support to prevent corporate failures and protect employment should be given top priority.
On the 27th of last month, the Bank of Japan shortened the monetary policy decision meeting, which was normally two days, to one day, and decided to make additional monetary easing.
The main opinions expressed at this meeting were announced on the 11th, and the members who attended said, `` Demand has been significantly reduced and evaporated due to the effect of the new coronavirus. It is becoming more and more serious. "
In addition, many members expressed the idea that funding support should be given the highest priority, saying, "The immediate priority is to prevent bankruptcy and protect employment by providing sufficient funding support to companies." ..
Based on these opinions, the Bank of Japan decided for the time being to buy government bonds without any cap and to supply ample funds at low interest rates, and to strengthen corporate financing support. We have made further monetary easing measures.
The Bank of Japan is urgently introducing a new system, which is being implemented as a measure of the government's economic measures to support virtually no interest and unsecured lending by private financial institutions, and is considering the details.