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Bank of Japan May Hold Emergency Meeting
Several sources are reporting that the Bank of Japan will hold an emergency policymaking meeting today at 1 a.m. ET (5:00 GMT) to plan and announce special monetary policy measures. The likely culprit was the weak second quarter GDP data released on Monday. The Sankei Shimbun is reporting that the Bank of Japan will consider taking additional steps to cope with the rising yen and falling stock markets. Dow Jones speculates the BoJ may expand the funds it lends at 0.1% to ¥30 trillion from ¥20 trillion. They suggest the BoJ wants to act prior to a meeting between Prime Minister Naoto Kan and BOJ Gov. Masaaki ... (full story)