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Monday 23.07.2018 | Name days: Magda, Magone, Mērija

Japan presents major stimulus plan; stock market hits highest level since 2008

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Japanese Central Bank has announced a major economy stimulus plan, which should double the country’s money supply, spur growth and halt falling prices.

As a result of the news, Japan’s stock market Nikkei hit its highest level in almost five years, with Nikkei 225 stock index climbing as much as 4.7% to 13,225.62. It is the highest level since August 2008.

Experts point out that the step was much bigger than expected and signalled a more aggressive approach towards driving growth. It is also added that he move has got the attention of investors both at home and abroad.

“Many investors who were not even interested in Japan before have opened their eyes. They realised that if they continue to look at Japan the way they did before, they are going to lose,” says Tetsuro Ii, chief executive of Commons Asset Management.

Japan plans to increase its purchase of government bonds by 50tn yen ($520bn; £350bn) annually.

The central bank’s move to buy additional bonds is an attempt to keep long-term interest rates low. The bank hopes that pumping money into the system will make borrowing cheap and encourage consumers and businesses to spend, reports BBC.

Ref: 105.105.105.3454


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