A reconstruction agency may be created to oversee disaster repairs, while data showed the central bank pumped record liquidity into lenders as the nation grappled with its worst disaster since World War II.

Chief Cabinet Secretary Yukio Edano told reporters the government will weigh "some sort of system or organization" to oversee postquake spending, adding that it's too early to say when a spending bill will be compiled. The Bank of Japan said lenders' deposits with the central bank Tuesday more than doubled since March 11, to ¥41.62 trillion.

Policymakers are girding for a drop in gross domestic product as deep as an annualized 12 percent in the second quarter, according to Morgan Stanley MUFG Securities Co.