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| Version 1 | Version 2 |
|---|---|
| Japan forecasts no growth in 2009 | Japan forecasts no growth in 2009 |
| (about 2 hours later) | |
| Japan's government has forecast that the country's economy will have zero growth in the year ending March 2010. | Japan's government has forecast that the country's economy will have zero growth in the year ending March 2010. |
| It is the first projection from the government of no growth in the gross domestic product in seven years. | It is the first projection from the government of no growth in the gross domestic product in seven years. |
| It follows a revised projection for the current fiscal year that the economy will shrink by 0.8%, instead of the 1.3% growth forecast in July. | It follows a revised projection for the current fiscal year that the economy will shrink by 0.8%, instead of the 1.3% growth forecast in July. |
| The Bank of Japan has cut its key interest rate to just 0.1%, down from 0.3%, taking it lower than US rates. | |
| The Bank of Japan also announced that it would increase its purchase of Japanese government bonds to 1.4 trillion yen ($15.7bn) a month, up from 1.2tn yen. | |
| A survey earlier this week indicated business confidence in Japan was at its lowest in 34 years. | A survey earlier this week indicated business confidence in Japan was at its lowest in 34 years. |
| Last week the government increased its economic stimulus plan by 23 trillion yen ($255bn; £171bn). | Last week the government increased its economic stimulus plan by 23 trillion yen ($255bn; £171bn). |
| The world's second-largest economy - and Asia's largest - shrank by an annualised rate of 1.8% in the third quarter. | The world's second-largest economy - and Asia's largest - shrank by an annualised rate of 1.8% in the third quarter. |
| Japanese exporters have been suffering amid the global financial downturn and the yen's surge to a 13-year high. | Japanese exporters have been suffering amid the global financial downturn and the yen's surge to a 13-year high. |