BizNews Blog

Japan’s economy is under strong pressure due to the devastation caused by earthquakes and tsunamis, said the Bank of Japan (BOJ).

BOJ said that the downward pressure that comes largely from loss of production and supply chain disruption.

The central bank did not alter its monetary policy, leaving the interest rate in the range of zero to 0.1%.

BOJ said it would offer one trillion yen in new loans a year.

The loan will be extended to financial institutions in areas affected by the quake with only 0.1% interest rate. Read it all..

Asian stocks stung by negative sentiment from Japan’s earthquake and tsunami. This morning, the MSCI Asia Pacific Index slumped 2.1 percent to positions 132.25.

Japanese stock market experienced the biggest decline in two years. At the closing of the morning session, the Nikkei index tumbled 4.53 percent or 464.88 points at 9789.55. The most plummeted stocks on the stock of Japan are Read it all..

Having previously dropped sharply, Yen steady shortly after the big earthquake in Japan on Friday (11/03/2011), while the euro rebounded against the US dollar, which fell after a downgrade Spain.

Yen falls to 83.30 against the dollar as dealers rushed away from the risk of earthquake, but recovered in the afternoon to 82.89 against the greenback, compared with 82.91 yen in New York late Thursday.

The euro was taken at 1.3807 dollars, compared with Read it all..