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Bank of Japan injects three trillion yen into markets

The Bank of Japan said it injected three trillion yen (28 billion dollars) into money markets in hopes of stabilising financial markets.

world Updated: Sep 17, 2008 09:50 IST

The Bank of Japan said on Wednesday it injected three trillion yen (28 billion dollars) into money markets in hopes of stabilising financial markets.

Japan's central bank said on its website that it made two injections -- one of two trillion yen in the morning and another of one trillion yen in the afternoon.

The Bank of Japan also made two injections on Tuesday, pumping 2.5 trillion yen into the markets, which have been reeling from the collapse of US investment bank Lehman Brothers.

Japanese share prices rebounded on Wednesday following a sharp sell-off the previous day after the US Federal Reserve agreed on an unprecedented bailout plan for troubled insurer AIG.

The world's central banks have pumped hundreds of billions of dollars into money markets to ensure the supply of funds does not dry up.