Japan's central bank has surprised financial markets by slashing its benchmark interest rate to almost zero, a move to fuel the country's faltering economy. The Bank of Japan (BOJ) announced Tuesday a 35 trillion yen ($418 billion) monetary easing program to incite the country's economic growth while cutting interest rates to a range of zero to 0.1 per cent.
Japan's central bank said in a statement released on Tuesday:
“Although Japan's economy still shows signs of a moderate recovery, the pace of recovery is slowing down partly due to the slowdown in overseas economies and the effects of the yen's appreciation on business sentiment”.
Reported by Press Association
The bank admitted that its move was "an extraordinary measure for a central bank”, adding that it had to act in light of the sluggish economic recovery and the damage the high yen was doing to business sentiment.
The Bank Of Japan noted “heightened doubt about the future, especially for the US economy”.
Bank Of Japan's decision gave an immediate boost to the stock market, with the Nikkei 225 index jumping 1.1 per cent after spending much of the day in negative territory. The decision highlights increasing worries about the Japanese economy, which is suffering a strong yen and persistent deflation. This is an extraordinarily hard blow to the global zionist banking cartel and an almost pure Islamic move by a non-Muslim country for the first time in decades.
It is critical to remember that Malaysia has already moved to the GOLD and SILVER coins almost two months ago.
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