BOJ eases policy to counter economic shock from quake

The Bank of Japan eased its monetary policy further on Monday as share prices plunged and a nuclear emergency seized the country after Friday's devastating earthquake and tsunami in northeast Japan.
The central bank board decided by a vote of 8-1 to expand a fund pool for buying assets and conducting market operations backed by collateral by 5 trln yen ($61 bln), to 40 trln yen.
The move is aimed at preventing a worsening of business sentiment and risk-aversive in financial markets from damaging the economy, the BOJ said in a statement.
It kept its key rate on hold at 0-0.10% by a unanimous decision.
"The BOJ will continue to closely monitor the outlook for the economy and prices and take appropriate action when necessary," the central bank said in a statement.
Governor Masaaki Shirakawa will hold a news conference from 3:30 p.m.