Today, Japan’s government announced a new stimulus package including ¥5 trillion ($51.45 billion) in direct spending and future disbursements of up to ¥26.9 trillion ($277 billion). Japanese Prime Minister Taro Aso stated, “Although Japan’s financial system is stable compared to those of the United States and Europe, the Japanese economy, too, has been significantly affected, with domestic stock prices fluctuating wildly.”

Earlier this month, Japan’s Central Bank announced an unlimited currency swap line with the Federal Reserve.