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Stories for November 1st 2008

• Saturday, November 1st 2008 - 20:00 UTC

  After massive package, Japan lowers rate to 0.3%

  

  The Bank of Japan has cut its main interest rate from 0.5% to 0.3% - its first reduction for seven years. The move followed a global wave of rate cuts to contain the financial crisis. Japan has the lowest interest rates in the developed world.

• Saturday, November 1st 2008 - 20:00 UTC

  EU October inflation down anticipates further rate cut

  

  European inflation edged down in October according to data released Friday helping to pave the way for the European Central Bank to deliver another hefty rate cut next week.

• Saturday, November 1st 2008 - 20:00 UTC

  China says melamine scandal extends to food supply

  

  The toxic chemical melamine is probably being routinely added to Chinese animal feed, state media has reported. Correspondents say the unusually frank reports in several news outlets are an admission that contamination could be widespread throughout the food chain.