Japanese cut

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The Independent Online
THE Bank of Japan is set to slash its official discount rate next week by 0.5 or 0.75 of a percentage point from the present 3.25 per cent, two leading Japanese dailies reported yersterday.

The reports echoed a similar view by Kyodo news agency, which quoted sources close to the central bank as predicting a 0.75-point cut, probably this week, in the key rate - the price the Bank of Japan charges commercial banks for money.

The government is considering further measures to kick- start the flagging national economy.