BoJ pumps another three trillion yen ($37 bln) into market

TOKYO, March 18, 2011 (AFP) - The Bank of Japan on Friday pumped three trillion yen ($37 billion) into the financial system to soothe money markets shaken by Japan's huge earthquake, devastating tsunami and a nuclear emergency.

The move raised its total funds injection in short-term money markets since Monday to 37 trillion yen, following an earlier pledge to provide "massive" funds following the disasters.

The central bank's priority is to ensure that financial institutions in disaster-hit regions do not run out of funds.

Tokyo shares surged 2.78 percent in early deals on Friday after the Group of Seven major economies agreed to intervene in markets to stabilise currencies following the massive earthquake and tsunami.

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