BBC - Japan ups interest rates to 0.5% [View All]

[jannyk]

Yep, that's right, UP to half a percent!

<<Japan's central bank has showed signs of confidence in the country's economy, raising interest rates to 0.5%.
It said the decision - only its second interest rate rise in more than six years - had been made because Japan's steady growth was likely to continue

The bank had last raised the rate to 0.25% percent in July last year after six years of zero interest rates designed to help the economy recover.

The bank's nine-member monetary policy board voted 8-1 in favour of the hike.

The yen immediately strengthened against the dollar on international currency markets when press reported hinted at the Bank's decision>>


http://news.bbc.co.uk/2/hi/business/6381335.stm