Japanese government and the Bank of Japan (BOJ) has decided to economic measures are the basic principles and the further relaxation of monetary policy. Held at the Bank of Japan decided to extend the temporary monetary policy tools of new loans to financial institutions to provide additional 10 trillion yen (about 80.3 billion yuan) loans soon after, the Japanese government held the Prime Minister’s official residence the relevant Cabinet Committee on Economic, plans to fully use the 2010 annual budget of 920 billion yen (about 73.9 billion yuan), and strive to September 10 cabinet meeting, a formal decision of economic measures.

Economic measures to determine

Bank of Japan recently held a temporary monetary policy meeting, decided to implement additional financial relaxed policy, open market operations by the new, the scale of the market capital injection from the current 20 trillion yen to 30 trillion yen, but the unsecured overnight call rate continues to maintain 0.1% unchanged.

In response, Prime Minister, Naoto Kan, president meeting with the Bank of Japan to evaluate the Ming Shirakawa said the central bank decided to further relax monetary policy “is a rapid response to the current situation and measures.” Hope to avoid the domestic economy due to yen appreciation and Europe and the United States aggravated an economic downturn. Meanwhile, to protect the economic recovery and prevent a strong yen and the impact of walk-liter, the Japanese government also announced that about 920 billion yen a stimulus package. Japanese Prime Minister Naoto Kan, said the stimulus package will be prepared to fund, if not, it will consider further additional budget provision.

The basic principle of economic measures, including ensuring that new graduates and the work of previous students have not found employment, and promote investment in environment-related businesses. In addition, also the new “new growth strategy in accomplishing the meeting,” the Prime Minister as the speaker, cabinet, central bank president, the economic sector and labor representatives to participate in a wide range of economic policies reflect public views.

Responses in stimulating consumption, will be extended by the end of December due to appliances and residential green credits system. Responses in employment, employment for the graduates not to find a job incentives for businesses “experience employment project”, will be extended to apply to objects within 3 years of previous graduate students.

In addition, in order to avoid appreciation of the yen led to the factory moved overseas, resulting in “industrial vacuum”, the Japanese government decided to set up production bases related to environmental protection subsidy system.

Monetary and economic policy is not to be optimistic

Although the Japanese government and the Bank of Japan decided economic measures are the basic principles and the further relaxation of monetary policy, but these actions did not appease investors.

Nikkei at Monday retreated from earlier gains in, and closing only 1.8% higher revenue. The yen’s rally, up 0.6% to 84.66 against one U.S. dollar.

In an emergency meeting news was released, the Nikkei rose more than 3%, the yen fell 0.7% against the dollar, but the central bank’s policy announcement, the Nikkei Index and the yen, both trends reversed.

New lending instruments the central bank to expand the market response is also expected change in policy. Distrust of the market rising, the Government and the Bank of Japan will have to launch a new round of measures.

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