Japan central bank eases monetary policy to boost economy

Japan’s central bank is making it easier for cash-strapped companies to get funding and expanding collateral for debt in response to the growing economic damage from the coronavirus pandemic.

The Bank of Japan decided at a meeting Monday to ease monetary policy, including expanding the purchase of commercial papers and corporate bonds, which work to deliver cash to companies.

The bank also decided to remove the ceiling restricting the amount for buying government bonds. The steps are similar to what central banks around the world have taken.

The Bank of Japan said the economy was facing serious difficulty because of the outbreak.