The Bank of Japan said on Wednesday that it would temporarily cease select operations. The decision was made in compliance to the government’s pronouncement of putting the country under state of emergency amid the novel coronavirus pandemic.
“The BOJ will scale back some of its operations in line with the government’s request to avoid outings,” it said in a statement.
Non-urgent operations such as researches and academic papers will be scaled back. However, all operations crucial to social infrastructure will not be suspended. This includes bank notes issuance, development of monetary policy, and other operations related to the settlement of funds.
Japan’s Prime Minister Shinzo Abe put the country under national emergency as increasing cases were monitored in certain areas including Tokyo. The current setup granted authorities more power to implement necessary measures.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...