The Bank of Japan added another $98 billion to yesterday’s 183 billion earmarked to support the country’s banking system in the face of the ongoing crisis. The injection came in two stages; the first of 5tn yen took place in the morning, the second after reports of increased radiation leaks.
Japan is currently dealing with a massive clean-up operation, the threat of nuclear meltdown, power shortages and significant economic disruption. All told, it will probably cost Japan hundreds of billions of dollars to rebuild after the earthquake and tsunami that hit the country.
Source: BBC News
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