Bank of Japan (BoJ) confirmed in a statement on Tuesday, it will offer JPY1 trillion worth of five-year loans against collateral from banks.

This measure was announced on Friday but the central bank confirmed the amount on Tuesday.

Meanwhile, Reuters reported on Monday, a panel of academics and business executives urged the BoJ to make its 2% inflation target a long-term goal.

Market reaction

USD/JPY is keeping its range at around 130.30, marginally lower on the day. The pair is holding its recovery momentum