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Clearing Major Support

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Sizeable Resistance Building

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Needle Still Points North

MNI (London)
     TOKYO (MNI) - The Bank of Japan said Monday it will hold an extraordinary
policy-setting meeting at 1200 JST (0300 GMT) to discuss monetary control
matters based on recent economic and financial developments.
     Holding the extraordinary policy-setting meeting means that the bank will
likely decide on additional easy policy, such as expanding its purchase of ETFs
(exchange traded-funds), commercial paper and straight bonds.
     The BOJ is also expected to introduce a lending facility to support small-
and medium-sized companies hit by tighter financial conditions caused by the
coronavirus pandemic.
     The BOJ said that the bank moved up the its regular two day policy-setting
meeting starting on Wednesday.
     The extraordinary policy-setting meeting is the first time since August 30,
2010, when the BOJ met to cope with increased downside risks to economic
activity and prices caused by the yen's appreciation.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MMJBJ$,M$A$$$,M$J$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com