Bank of Japan split on rate cut

Bank of Japan policymakers were divided in making the first cut in more than seven years on Friday. The central bank lowered its overnight lending rate from 0.5% to 0.3% due to a "severe" adjustment in the world economy.

The eight-strong rate-setting committee was split in half, with four members favouring a 30 basis-point cut and four opposing the move. Masaaki Shirakawa, the governor of the central bank, cast the deciding vote in favour of a cut.

The central bank said adjustments in the wor

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