Japan cuts key rate to 0.1 percent
China Daily | Updated: 2008-12-20 07:49
TOKYO: Japan's central bank cut its key interest rate to 0.1 percent on Friday, joining the US Federal Reserve in lowering borrowing rates to nearly zero amid an ever-worsening outlook for the global economy.
The Bank of Japan's policy board voted 7-1 to cut the uncollateralized overnight call rate target from 0.3 percent.
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