World stocks heat up as Bank of Japan goes sub-zero

January 29, 2016 1:18 PM

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LONDON World shares jumped and the yen slumped on Friday after the Bank of Japan took one of its main interest rates into negative territory, its boldest step yet to re-inflate the economy.

The yield on Japanese benchmark government bonds plunged to record lows after the Bank of Japan said it would charge 0.1 percent for excess reserves and may cut rates further if necessary, an aggressive policy pioneered by the European Central Bank.

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