Bank of Japan eases monetary policy

In a surprise move the Bank of Japan eased monetary policy sharply on Wednesday. In a statement the BoJ said the move was seen as appropriate in light of current "uncertainty regarding the economic and financial situation".

Source: Financial Times

The Bank of Japan on Wednesday surprised markets by easing monetary policy sharply, citing uncertainty in Japan's financial markets and the possible negative impact on the economy of the Sars crisis.

The central bank said it would raise the target for