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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

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To: Richard Mazzarella who wrote (65026)	3/7/2001 8:10:53 AM
From: long-gone	of 116814

Wednesday March 7, 1:12 am Eastern Time Hayami remark didn't suggest plan for easing--BOJ TOKYO, March 7 (Reuters) - Bank of Japan (BOJ) Governor Masaru Hayami did not suggest on Wednesday that the central bank planned to take quantitative monetary easing steps by pushing down the yen, a BOJ spokesman said. Earlier in the afternoon, Hayami said in a speech to business leaders and journalists that intervention to drive down the yen was among policy options presented to the central bank, but he urged caution. His comments triggered active selling of the yen by foreign exchange traders. ``His remark was presented as a general example (of possible options), but he did not suggest the bank planned to carry out quantitative monetary easing through intervention to push down the yen,'' the spokesman told Reuters. Quantitative easing refers to such policy tools as funnelling more liquidity into the banking sector, promoting outright purchases of long-term government bonds, and not offsetting surplus liquidity after yen-selling operations in the forex market. biz.yahoo.com

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