Japan Making Preparations for Recovery
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As Japan prepares to rebuild following the worst disaster in the country since World War II, the nation's government may consider setting up an agency to oversee reconstruction. At the same time, the central bank has been pumping liquidity into lenders to vitalize the markets.
Chief Cabinet Secretary Yukio Edano said Tuesday that the government will look into "some sort of system or organization" to oversee restoring the damage caused by the earthquake and subsequent tsunami.
The Bank of Japan said Monday that lender deposits with the central bank have more than doubled to 41.62 trillion yen ($513 billion) since the day of the disaster.
Policy makers in Japan are preparing for the nation's gross domestic product to contract 12 percent in the second quarter. The cost of rebuilding the damage has yet to be determined.
Overnight the benchmark Nikkei 225 rose 4.4 percent to 9,608.32.
Related ETFs:
iShares MSCI Japan Index (NYSE: EWJ)
Chief Cabinet Secretary Yukio Edano said Tuesday that the government will look into "some sort of system or organization" to oversee restoring the damage caused by the earthquake and subsequent tsunami.
The Bank of Japan said Monday that lender deposits with the central bank have more than doubled to 41.62 trillion yen ($513 billion) since the day of the disaster.
Policy makers in Japan are preparing for the nation's gross domestic product to contract 12 percent in the second quarter. The cost of rebuilding the damage has yet to be determined.
Overnight the benchmark Nikkei 225 rose 4.4 percent to 9,608.32.
Related ETFs:
iShares MSCI Japan Index (NYSE: EWJ)
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