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After weeks of calls by the Japanese government to do something about deflation and the fast appreciating yen, the Bank of Japan held an emergency meeting Tuesday - and decided what the world's second largest economy needs is more money. Central bank governor Masaaki Shirakawa announced steps to step up monetary easing by injecting 10 trillion yen (about $115 billion) into Japan's financial system. Shirakawa told reporters that these steps could be considered "quantitative easing in a broad sense." The eight-member policy board also unanimously voted to maintain the Bank of Japan's key short-term interest rate...
...Tuesday, Deputy Prime Minister Naoto Kan, who is also the national strategy chief, and Finance Minister Hirohisa Fujii, stressed the importance of quantitative easing to the Bank of Japan. In turn, the Bank agreed to cooperate by lending 10 trillion yen, in the form of short-term loans, to commercial banks at the rate of 0.1%, and to accept government bonds and corporate debt as collateral...
...taken President Obama three months to reach the decision on Afghanistan that he'll share with the nation on Tuesday night, because there are no easy solutions. His chosen path will win applause from some quarters but boos from others. Here's a scorecard outlining the key questions the speech will address, to determine what proposals Obama has embraced and the risks he's willing to accept - and who's likely to be pleased or ticked off as a result...
...attention-hungry Virginia socialites broke their silence on Tuesday, appearing on NBC's Today show, where they insisted that they had permission to attend the gala dinner. "We were invited, not crashers. There isn't anyone that would have the audacity or the poor behavior to do that," Michaele Salahi said, but the couple did not specify who had issued the invitation. On the same program, White House press secretary Robert Gibbs denied that claim, saying, "You don't show up at the White House as a misunderstanding." The Salahis exchanged e-mails about attending the state dinner with...
...glitzy Washington social function. The two attended a Congressional Black Caucus Foundation awards dinner in September at which Obama spoke, reportedly entering through a door used by servers and busboys. After organizers determined that they were not on the guest list, the two were escorted out. In Tuesday's interview, the couple insisted that they were invited to that event as well...