The Bank of Japan stepped up its stimulus today (April 27) and pledged to buy unlimited amounts of government bonds, warning the country’s economy is in “an increasingly severe situation” due to global coronavirus lockdown.

The Japanese central bank’s ‘all in’ stance is in line with other major central banks that have unleashed their full firepower to aid the virus-hit economy. The Federal Reserve announced an unlimited Treasury purchase plan in late March.

However, the BoJ’s actual purchases