Archive for November, 2008

Bank of Japan Slashes Interest Rate for the First Time in Seven Years

In its first rate cut in seven years, Bank of Japan reduced interest rates from 0.5 percent to 0.3 percent on Friday.
London – The news of the rate cut comes a day after Japanese Prime Minister Taro Aso announced Japan’s second stimulus package of 27 trillion yen ($275 billion) aimed to boost the flagging economy. [...]