Japan throws financial lifeline

Tomoko A. Hosaka, Associated Press Writer
Mon Aug 30, 2010 - 7:13 am ET


TOKYO –
Japan's government and the central bank threw the economy a double lifeline Monday,
seeking to contain a strong yen and revive a faltering recovery.

To boost liquidity, the central bank unveiled a new six-month low-interest loan program
to financial institutions. Combined with an existing three-month funds-supplying operation
worth 20 trillion yen ($236 billion), banks will now have access to a total of 30 trillion yen ($355 billion).



"With this, the bank will encourage a decline in market interest rates and further
enhance easy monetary conditions," Bank of Japan Gov. Masaaki Shirakawa told reporters.

The central bank's move, which disappointed investors and analysts hoping for bolder action,
was followed several hours later by Prime Minister Naoto Kan's plans for a new
economic stimulus package worth 920 billion yen ($10.9 billion)

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nice..... too bad we already owe them about 20% of our 3 trillion +

i just hope they didn't copy obama's plan

maybe we can refinance ?

That would help me I'm trying to pay for a remodel.