BoJ mirrors BoE’s FLS and steps up easing
The policy board of the Bank of Japan (BoJ) today (October 30) increased the scale of its "powerful monetary easing" policy by ramping up the size of its asset purchase programme by ¥11 trillion ($138 billion) and introducing a facility to encourage bank lending similar to the Bank of England's funding for lending scheme (FLS).
Under its 'stimulating bank lending facility' the BoJ will lend an unlimited amount to banks at a low interest rate, provided they increase their own lending by the same
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