Japan central bank boosts stimulus following Fed rate cut

A pedestrian wearing a protective mask is silhouetted while walking past the Bank of Japan headquarters (bottom centre) in Tokyo, Japan, on Monday, March 16, 2020. The Bank of Japan strengthened stimulus but stopped short of cutting its negative interest rate at an early meeting Monday after the Federal Reserve slashed its own rates to address rapidly mounting shocks from the coronavirus. - Bloomberg

TOKYO (AP): Japan's central bank took emergency action Monday (March 16) to help support the economy following the US Federal Reserve's decision to cut its benchmark interest rate to nearly 0%.

The Bank of Japan announced after an emergency policy meeting that it will expand its purchases of stocks, bonds and other assets and provide zero interest, one year loans to companies running short of cash to help the economy weather the impact of the virus outbreak.