Business | Banking
Bank of Japan cuts key interest rate to 0.1 per cent
The Bank of Japan (BOJ) cut its key policy rate to 0.1 per cent on Friday and took other steps to ease corporate credit strains.
Tokyo: The Bank of Japan (BOJ) cut its key policy rate to 0.1 per cent on Friday and took other steps to ease corporate credit strains.
The decision, which follows Tuesday's dramatic rate cut by the Federal Reserve, was made by a vote of 7-1.
Board member Tadao Noda voted against the rate decision, which takes effect immediately.
BOJ Governor Masaaki Shirakawa will hold a news conference later in the day.
Japan is already in recession as companies such as carmakers Toyota and Honda slash output as customers close their wallets worldwide.
Share this article
More from Banking
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
What to expect at the Dubai Airshow
We preview what types of aircraft to expect at the Dubai Airshow
-
Air Arabia revamps its website
Upgraded site offers new features, accessible in range of languages
-
Dubai looks ahead to 2010 with new projects
Global visitor numbers up 4% on year and occupancy rates remain strong


