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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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From: Gut Trader	6/29/2006 6:23:24 AM
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Stock and Awe!!!..... Japan MOF: BOJ to monitor share prices for policy Thu Jun 29, 2006 4:38 AM ET TOKYO, June 29 (Reuters) - Japanese Vice Finance Minister Koichi Hosokawa said on Thursday he thinks the Bank of Japan will take an appropriate stance on monetary policy in relation to stock prices. Hosokawa also told a news conference that his ministry would continue to watch share prices carefully. "I believe the Bank of Japan will make an appropriate response in relation to share prices," he said, noting that BOJ Governor Toshihiko Fukui said earlier this month that the central bank will watch share prices along with economic and price conditions. Tokyo's benchmark Nikkei share average <.N225> rose 1.58 percent on Thursday, after marking its biggest one-day percentage fall in two weeks on Wednesday. Stock prices have been volatile on uncertainty over monetary policy, as major central banks move to tighten credit as their economies are showing sign of inflation. The U.S. Federal Reserve is expected to raise interest rates for the 17th consecutive time when its policy meeting concludes later on Thursday, with markets focusing on how hawkish it will be in its statement about future rate increases. Market participants expect the BOJ to raise short-term interest rates from zero as early as next month.

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