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Bank of Japan to create its version of Fed's 'Main Street' lending scheme

May 21, 2020 - Nasdaq

B y Leika Kihara TOKYO, May 22 (Reuters) - Japan's central bank will create its own version of the U.S. Federal Reserve's "Main Street" lending programme to channel more money to small businesses, in a bid to keep the coronavirus pandemic from pushing the economy deeper into recession. The decision, to be made at an emergency meeting on Friday, underscores concerns in Tokyo that without stronger steps to pump credit to cash-strapped firms, the pandemic could lead to a spike in bankruptcy and j...