TOKYO: The Bank of Japan voted Friday to cut its key interest rate for the first time in more than seven years, finally joining central banks around the world in trimming borrowing costs to cushion the impact of the global financial crisis.
The Bank of Japan policy board voted in a rare 4-4 split decision to reduce the uncollateralized overnight call rate to 0.3 percent, the lowest among major economies.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!