Bank of Japan boosts its coronavirus stimulus plan to more than $1 trillion amid 'extremely severe' economic crash

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• The Bank of Japan increased its COVID-19 stimulus from 75 trillion yen ($700 billion) to 110 trillion yen ($1.02 trillion) on Tuesday. 
• "Japan's economy has been in an extremely severe situation due to the impact of the novel coronavirus (COVID-19)," the central bank said.
• Japan has been one of the least infected major economies from coronavirus, with fewer than 1,000 people dying in the country — less than 1% of the death toll seen in the US.
• Bank of Japan Governor Haruhiko Kuroda, however, said: "We can't rule out the risk of a second wave of infections."
• Visit Business Insider's homepage for more stories.

The Bank of Japan has boosted its coronavirus stimulus plan to more than $1 trillion but fell short of changing interest rates as the central bank signaled it could put its COVID-19 economic measures in place beyond March 2021. 

The Bank of Japan increased its stimulus programme from 75 trillion yen ($700 billion) to 110 trillion yen ($1.02 trillion).

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See Also:

• Former Fed Chairs Ben Bernanke and Janet Yellen signed a letter with 130 top economists imploring Congress to prevent 'prolonged suffering and stunted economic growth'
• The national debt tops $26 trillion for the first time as the federal government ramps up coronavirus relief spending
• 12 weeks ago Congress rushed in to save the US from economic collapse. But now all its assistance programs are ending.

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