As stock prices continue to slide, the Bank of Japan made a rare announcement Tuesday that it will flood the market with yen to the limit of its current policy.
The announcement came as the BOJ finished a two-day policy-setting meeting, keeping its monetary policy unchanged.
The central bank will keep force-feeding money into private-sector banks' current accounts at the BOJ, and maintain a balance between 15 trillion yen to 20 trillion yen, the Policy Board unanimously decided.
Rather than use up any of the few policy moves it has left, the Policy Board announced it reached a "verbal understanding" that it will try to keep the level of funds in the banking system as close to the upper limit of 20 trillion yen as possible.
Critics continue to call on the BOJ to resort to drastic measures, including purchases of real estate or securities.
The balance stood at 18 trillion yen at 6 p.m. Tuesday. The current monetary policy has been in place since Oct. 30.