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According to the latest data published by the Bank of Japan (BOJ) on Thursday, the Japanese central bank’s holdings of commercial paper jumped nearly 30% in April, as the bank stepped up measures to support the domestic companies hit by the coronavirus pandemic, per Reuters.

Key quotes

Its holdings of commercial paper stood at 3.26 trillion yen ($30.7 billion) as of April 30, up 27.8% from a month ago, the bank’s data showed.

That was much faster than the 16.9% rise in March.

The BOJ’s corporate bond holdings rose 5.27% to 3.39 trillion yen.       

Analysts expect the BOJ to keep ramping up asset buying to prevent credit markets from freezing up.

Market reaction

The yen remains little affected by the above data, as USD/JPY continue to track the dollar price-action and the sentiment on the global markets. The spot, currently, trades at 106.24.  having bounced off seven-week lows of 106.00.