BoJ ramps up asset buying

TOKYO: The Bank of Japan strengthened its stimulus but stopped short of cutting its negative interest rate at an early meeting after the Federal Reserve slashed its own rates to address the rapidly mounting economic shock of the coronavirus pandemic.

The BoJ said it would buy more assets including exchange-traded funds and corporate bonds, and offer a new zero-interest rate loan program to ensure companies had the financing they needed, to help prop up sentiment and maintain stability in markets.