Japan Cuts Interest Rates to 0.1%
Published / Last Updated on 18/12/2008
Japan Cuts Interest Rates to 0.1%
The Bank of Japan reduced interest rates for the second time in two months overnight bringing its rates down to ‘virtual zero’ as in the US.
This follows news that Japan expects a very tough economic year, with zero economic growth in 2009.
Meanwhile, reports are leaking out that the UK Bank of England Monetary Policy Committee considered rates cuts even larger than the 1% to just 2% earlier this month.
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