Bank of Japan tries new stimulus

The Bank of Japan has decided after an emergency meeting about new measures to boost the economy and undertake deflation, the BBC News informs.

Officials said that the bank would inject about 10 trillion yen ($114bn; £70bn) into the economy by offering banks cheap short-term loans.

"This must be government pressure... if they were free from pressure, they wouldn`t have done anything, because they`ve been saying their assessment hasn`t changed," said Dariusz Kowalczyk, chief investment strategist at SJS Markets.

The government welcomed the bank`s stimulus move. It has been concerned about the recent return of deflation.