BornAgain123
October 31st, 2008, 09:49 AM
October 31, 2008
http://business.timesonline.co.uk/tol/business/markets/article5052899.ece
The Bank of Japan (BOJ) has reluctantly joined its international central bank counterparts with a 20 basis point cut, which leaves the key policy interest rate at just 0.30 per cent. The cut reflects growing concern that the Japanese economy may have tumbled into recession and follows a half-point rate by the US Federal Reserve earlier this week.
A rapid surge in the value of the yen has hammered corporate profits, and a global downturn in consumer spending is expected to take a heavy toll over coming months.
The BOJ's decision follows the announcement last night of a giant emergency stimulus package for the Japanese economy, including efforts to prompt a consumer revival by effectively put cash in the hands of households and cutting some taxes...............
http://business.timesonline.co.uk/tol/business/markets/article5052899.ece
The Bank of Japan (BOJ) has reluctantly joined its international central bank counterparts with a 20 basis point cut, which leaves the key policy interest rate at just 0.30 per cent. The cut reflects growing concern that the Japanese economy may have tumbled into recession and follows a half-point rate by the US Federal Reserve earlier this week.
A rapid surge in the value of the yen has hammered corporate profits, and a global downturn in consumer spending is expected to take a heavy toll over coming months.
The BOJ's decision follows the announcement last night of a giant emergency stimulus package for the Japanese economy, including efforts to prompt a consumer revival by effectively put cash in the hands of households and cutting some taxes...............