Bank of Japan Cuts Benchmark Interest Rate to As Low As 0%

 

Breaking News Alert
The New York Times
Tue, October 05, 2010 -- 1:05 AM ET
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Bank of Japan Cuts Benchmark Interest Rate to As Low As 0%

The Bank of Japan on Tuesday unexpectedly cut its benchmark
interest rate from 0.1 percent to a range of 0 to 0.1
percent. The unanimous decision came after a two-day meeting
of the bank's nine-member policy board and is the first
change of Japan's key rate since December 2008.

The move had important symbolic impact, signaling the bank is
willing to take action to spur the ailing economy despite the
risks of deflation from further cuts in interest rates.

Tokyo's Nikkei stock market average rose by more than 1.5
percent after the announcement.

Read More:
http://www.nytimes.com/aponline/2010/10/05/business/global/AP-AS-Japan-Central-Bank.html?emc=na


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