Move over Libyan civil war and Saudi Arabian “Day of Rage”. An 8.9 magnitude earthquake in Japan (NYSE:EWJ) will be the global media’s obsession for the next few days.
On a financial front, the Bank of Japan has pledged to maintain financial stability in Japan. Japan’s central bank made the following statements at 5AM EST:
1) The settlement of funds and Japanese government securities has been completed as scheduled for today.
2) The Bank will continue to assess possible impact of the earthquake on financial markets as well as on financial institutions’ business operations, and stand ready to take action as necessary.
3) The Bank will continue to do its utmost, including the provision of liquidity, to ensure the stability in financial markets and to secure the smooth settlement of funds, in the coming week.
We will keep an eye on developments in Japan as we receive them.