31-Aug-2010 10:00 AM

Japan to allocate USD11bn for economic stimulus; yen surges to 15-year high

Japan's Prime Minister, Naoto Kan, stated the government would allocate JPY920 billion (USD10.8 billion) on an economic stimulus plan with details to be completed by 10-Sep-2010 (Bloomberg, 31-Aug-2010).  Meanwhile, the Bank of Japan has held an emergency Board meeting on 30-Aug-2010, as the Japanese yen surged to a 15-year high, with the Bank expanding a bank loan programme by JPY10 trillion (USD118 million).