Japan on Monday announced measures to support financial markets and help its economy overcome a slowdown induced by the global coronavirus outbreak.
According to Kyodo News, the Bank of Japan (BoJ) doubled its annual purchases of exchange-traded funds (ETFs) to $112 billion.
The decision marks the first time the central bank has introduced additional easing measures since July 2016, when it increased ETFs purchases to $56 billion.
The BoJ, however, did not further reduce short-term interest rates, which are currently set at minus 0.1 percent.
In its overall assessment, the bank said Japan’s economy “has been weak recently” due to the coronavirus outbreak.