Japan Follows the footsteps of its Asian Counterparts.

Bank of Japan cut down the interest rates for the first time in 7 years in order to protect its economy from the onslaught of the financial crisis which has been deepening day by day. It has followed the footsteps of its counterparts- India and China. US too had gone for a rate cut.

Apart from the interest rate cut the nation awaits more measures from the Japanese central bank to infuse liquidity in to the market. Moreover the economic growth estimates of Japan have dwindled to a new low due to the global fears of recession creeping in.Financial crisis had its toll on japan too.

Its now wait n watch for the measures to be initiated by its central bank.