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Japan's Central Bank Votes for Negative Interest Rates

In a surprise move, the Bank of Japan has decided to introduce an interest rate of minus 0.1 percent. The move affects current accounts held by financial institutions at the central bank, which previously offered a miniscule 0.1 percent on deposits. “There's a risk of further falls in oil prices, uncertainty over emerging economies, including China and global market instability that could hurt business confidence and delay the eradication of people's deflationary mindset,” BOJ...

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