BOJ Central Bank

stock market investors: It closed 2.8 per cent higher, according to The Toronto Star. The Japanese yen slid, with the U.S. dollar rising to about 120.70 yen from about 118.50 earlier in the day. The surprise move rattled stock market investors, with the Nikkei 225 index swinging between gains and losses after the announcement. The central bank said it is imposing a 0.1 per cent fee on some new commercial bank deposits with the BOJ, effectively a negative interest rate. The BOJ said in statement that Japan economy is still recovering, but risks from volatile global financial markets could undermine confidence and slow progress toward the central bank 2 per cent inflation target. It hopes that will encourage commercial banks to lend more, rather than keeping cash at the BOJ, and stimulate investment and growth in the world third-largest economy. (news.financializer.com). As reported in the news.