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BOJ adopts negative interest rates

The nine member board voted 5-4 to put an interest rate of -0.1 percent on current accounts held at the central bank.

TOKYO -- The Bank of Japan decided to adopt negative interest rates at its policy meeting on Friday, voting 5-4 to apply an interest rate of -0.1 percent on current accounts that financial institutions hold at the central bank. At the same time, the BOJ revised its inflation forecast for fiscal 2016 down to 0.8% from a previous level of 1.4%.

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