The Bank of Japan has launched a task force to study issuing a digital currency, as such money becomes increasingly popular around the world.
The move comes after government economic guidelines called on the BOJ to examine the feasibility of a digital currency that can be exchanged through smartphones.
The Governor of the Bank of Japan says it will not hesitate to draw up additional easing measures in response to the coronavirus pandemic.
Kuroda Haruhiko was speaking to reporters on Tuesday after a two-day policy meeting at which the BOJ decided to expand its corporate financing support program to over one trillion dollars.
Policymakers at the Bank of Japan have announced measures to ease the impact of the coronavirus pandemic on the economy.
The BOJ met on Monday, two days ahead of schedule. The central bank will increase its purchases of exchange-traded funds from the current 6 trillion yen to 12 trillion yen a year, and it will double its acquisition of real estate investment funds to 180 billion yen per year.
The benchmark Nikkei stock index has reacted positively to the Bank Of Japan's statement -- suggesting Governor Haruhiko Kuroda's words have encouraged some investors.
The statement said the central bank will strive to provide ample liquidity and ensure stability in financial markets through appropriate operations and asset purchases.
Bank of Japan Governor Haruhiko Kuroda has released a statement to try and bring calm to markets amid the outbreak of the coronavirus.
It says the central bank will strive to provide ample liquidity and ensure stability in financial markets through appropriate operations and asset purchases. It says the BOJ will closely monitor future developments.
The Japanese government and the Bank of Japan held an emergency meeting on Tuesday to discuss the plunge in Tokyo stocks, caused by anxiety about the impact of the coronavirus outbreak on the global economy.
The meeting brought together senior officials from the BOJ, the Finance Ministry and the Financial Services Agency.