Bank of Japan cuts key interest rate into negative territory - Jan. 28, 2016

Japan's central bank is stepping up its efforts to kick-start the country's struggling economy by taking a key interest rate into negative territory.



The Bank of Japan said Friday that it will cut the rate on current accounts that commercial banks hold with it to minus 0.1%, adding that it will push the rate even lower if needed. The move basically means lenders will be charged to keep money with the central bank.



Bank of Japan cuts key interest rate into negative territory - Jan. 28, 2016