Central Banking

BOJ's pre-tax profit plunges 73.7%

The Bank of Japan announced Wednesday that its pretax profit plunged 73.7% on the year to 248.2 billion yen (US$2.25 billion) in the fiscal first half ended September 30. The central bank suffered massive losses on long-term government bonds, coupled with foreign exchange losses resulting from the weak euro.

The bank's assets grew 24% to 85.33 trillion yen due to aggressive buying operations. The figure consists of 59.26 trillion yen in government bonds, up 18.5% on the year, and 750.1 billion

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