The Bank of Japan announced additional stimulus measures on Monday. AFP/CNA reports:
The Bank of Japan decided at an emergency policy meeting Monday to expand its funding programme introduced in December in an effort to safeguard a fragile recovery threatened by a strong yen...
The bank said it would offer around 10 trillion yen (118 billion dollars) in six-month loans in addition to the 20 trillion yen of an existing three-month loan programme that started in December.
In another policy move in Asia, South Korea announced measures to boost its housing market. Again from AFP/CNA:
South Korea's government Sunday announced measures to ease curbs on mortgage lending to counteract a slump in the housing market.
Under the plan, jointly announced by several agencies including the land and finance ministries, the government will temporarily roll back some restrictions introduced in the mid-2000s to curb soaring prices.
Limits for some borrowers will be lifted until next March, giving banks the power to decide how much they can lend to homebuyers.
In Singapore, however, policy makers are trying to cool the housing market. CNA reports:
The government said Monday that it will increase the holding period for imposition of Seller's Stamp Duty (SSD).
The SSD will be raised from the current one year to three years.
Another measure will impact those who have more than one outstanding housing loan.
Property buyers who already have one or more outstanding housing loans at the time of the new housing purchase will have to pay more money upfront.
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