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« Nuclear energy a great economic opportunity for Australia | Main | A Huge Change, a Renaissance, and Likely a Boom »
Friday
Jan292016

Bank of Japan introduces negative interest rate to boost economy 

 

The Bank of Japan on Friday introduced a negative interest policy in a move to boost a stumbling recovery in the world's third-largest economy.

The central bank said it is imposing a 0.1 percent fee on some deposits left with the central bank, effectively a negative interest rate.

It hopes that will encourage commercial banks to lend more and stimulate investment and growth.

The move had an immediate impact on financial markets. Japan's benchmark Nikkei 225 stock index, which had been down about 0.8 percent at midday, shot higher. The Japanese yen slid, with the U.S. dollar rising to 120.40 yen from about 118.50 earlier in the day.

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Maybe this was the reason for the sudden jump in the US Dollar earlier today - the USD may gain strength from here at gold's cost.

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