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Japan's central bank cuts key rate to between 0% and 0.1%

Oct 5, 2010 8:44:00 AM - latimes.com
The first change since the rate fell to 0.1% in 2008 reflects worries about the economy. Tokyo also plans to buy $60 billion in government bonds and other assets.

Japan's central bank cut its key interest rate to virtually zero in a surprise move Tuesday and is looking to set up a $60-billion fund to buy government bonds and other assets as it tries to inject life into a faltering economy.

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