Japan cuts rates, Barclays to raise $12bn
Japan cut interest rates for the first time in seven years on Friday, expecting severe stress in the global economy to persist, while UK banking giant Barclays said it was raising $12bn in capital.
The Bank of Japan cut interest rates for the first time in seven years, lowering them to 0.30 percent from 0.50 percent on Friday, joining a global wave of rate cuts to contain the financial crisis.