Monetary Policy

Bank of Japan warns of recession

JAPAN - The Bank of Japan has acknowledged the world's second largest economy will shrink this year by cutting a growth forecast for 2001 that many economists have long viewed as unrealistic.

Japanese output slumps

JAPANESE - Industrial production in the world's second largest economy slumped by a worse-than-expected 2.9% in September following last month's attacks on the US.

UK economy defies world slowdown in Q3

UK - Britain's economy grew at a much faster rate than expected in the third quarter of 2001, defying the global slowdown that has been exacerbated by last month's attacks on the United States, data showed on Friday.

BOK to pursue flexible monetary policy

SOUTH KOREA - The Bank of Korea (BOK) will manage its monetary policy in a flexible manner, paying attention to its effect on the real economy, BOK governor Chon Chol-hwan said Thursday in a speech.

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