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BoJ welcomes

German rate cut

TOKYO: The Bank of Japan (BoJ) on Thursday welcomed the German Bundesbank's key rate cut, saying the move would help the dollar gain further ground, Kyodo News Service reported.

"The move was larger than expected and drastic", an unidentified BoJ official said, after the German central bank cut its key discount and Lombard rates by 0.5 percent point to 3.50 percent and 5.50 percent respectively.

"The timing was good", the official was quoted as saying.-APP