BOJ Eases More while EU Approves Greek Bailout

As the market awaits the FOMC meeting, the BOJ expanded a loan scheme, by 2 trillion yen, to 5.5 trillion yen. A board member proposed to increase the size of the asset purchase program but was in vain in a vote of 8-1. Japanese yen climbed after the move on anticipation of a better growth outlook in Japan. This is ironic that one of the major problems hindering economic growth in Japan is indeed strength in Japanese yen. In the Eurozone, finance ministers eventually approved the 130B euro bailout plan to Greece. The debt-ridden member state in the Eurozone will be eligible to tap more than 100b euro from the EFSE in the coming 3 years.

Read more from the original source:
BOJ Eases More while EU Approves Greek Bailout