Thursday, April 7, 2011

Japan bank to help economic recovery

The Bank of Japan has announced new measures to help the economy recover from the earthquake, tsunami and nuclear crisis.

The Central Bank has unveiled a lending scheme to help banks in quake-hit areas.

It has also left its key rate unchanged and downgraded its view of the economy due to the disasters.

The bank says the economy faces "strong downward pressure" due to the impact of the March 11 disasters on production and supply chains.

School closures

Fears of radiation from Japan's nuclear disaster has prompted some schools in South Korea to shut down, as rainfall continues over most of the country.

School boards have advised principals to use their discretion in scrapping outdoor activities to address concerns among parents.

However, South Korea's nuclear safety agency has tried to reassure the public.

It says a small level of radioactive iodine has been detected in the rain, but at levels too low to be harmful.

Hydrogen risk

Meanwhile, emergency crews at the damaged Fukushima nuclear plant are trying to prevent a new explosion.

Tokyo Electric Power says it is concerned about a build-up of hydrogen gas at the number one reactor at the Fukushima plant .

The gas could mix with oxygen, creating an explosion.

So the emergency crews are pumping nitrogen into the crippled reactor in a bid to stop the mixture.

Workers had begun injecting nitrogen to prevent an explosive build-up of hydrogen gas.

Source: www.radioaustralianews.net.au

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