Central Banking

Japan relaxes monetary policy still further

JAPAN - Japan has joined the US, Europe and Canada in easing monetary policy, in an effort to see off recession and calm markets following last week's terrorist attacks.

The Bank of Japan has cut its discount rate to 0.10% from 0.25%.

The move follows interest rate cuts ordered yesterday, Monday 17 September, by central banks in countries including the US, Canada and Sweden, and by the European Central Bank, which controls rates in the 12 states which have adopted the euro.

Hours after Japan's

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