Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on TwitterBe a Facebook FanTumble us!

05 Oct 2010 10:10

tags

Biz, World: In anti-deflation bid, Japan drops its interest rate to around zero

  • 0%-0.1% the interest rate in Japan
  • ยป Why did they do that? Well, the country has been trying to fight off deflation for a little bit, so their latest plan is to cut inflation down to a near-zero rate to help boost lending. It’s the first time they’ve had a near-zero interest rate since 2006. Hopefully things won’t get worse, though: This is kind of a move of last resort. source