Bank of Japan offers huge cash injection to combat rising short-term rates

The Bank of Japan offered to pump a combined $97 billion into markets through temporary government bond purchases in a two-day effort to counter a rise in short-term interest rates.
 

The central bank on Tuesday made two offers, including one to buy bonds worth 2 trillion yen ($17.6 billion) for immediate fund provision. Under another offer, it would buy 7 trillion yen to inject funds for a period between Dec. 15-16.
 

Both offers have arrangements to sell the bonds back.
 

Including an offer to inject 2 trillion yen made on Monday, the central bank offered to inject a combined 11