Bank of Japan to print 600 bln yen into banking system

TOKYO, Aug 13, 2007 (AFP) – Japan’s central bank announced Monday it will inject 600 billion yen (5.0 billion dollars) into the banking system to avert liquidity shortages after recent turbulence on global financial markets.

The Bank of Japan had already pumped one trillion yen into the money market on Friday as part of a concerted global action by top central banks to ward off a credit crunch amid the fallout from the US sub-prime mortgage problems.

The US Federal Reserve pumped a further 38 billion dollars into the US banking system Friday, its biggest operation since shortly after the September 11, 2001 terrorist attacks.

The European Central Bank for its part injected 155.85 billion euros (212.98 billion dollars) into the eurozone banking system over Thursday and Friday. .

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