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Bank of Japan offers further $170 bln in liquidity *PIC*

Bank of Japan offers further $170 bln in liquidity (by Michael Kitchen)

LOS ANGELES (MarketWatch) -- The Bank of Japan offered a further 13.8 trillion yen ($170.5 billion) worth of funds to help calm the markets, according to a report Wednesday. The central bank, in its third day of emergency operations following last week's catastrophic earthquake, added 5 trillion of the funds immediately to the short-term money markets, and said the remaining 8.8 trillion would be provided on Thursday and Friday, according to Kyodo News. On Tuesday, the Bank of Japan had made a 20 trillion injection, as Japanese stocks crashed, with a 10.6% drop in the Nikkei Stock Average (JP:NI225) . On Wednesday, the Nikkei Average ended 5.7% higher.