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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: eddie r gammon who wrote (5291)9/7/1998 10:12:00 PM
From: Joseph G.  Read Replies (1) of 86076
 
<< Yen rise on uncertainty over US economy-BOJ quoted

TOKYO, Sept 8 (Reuters) - Uncertainty emerging in financial markets over the U.S. economy was behind the yen's rise on Monday, Bank of Japan (BOJ) Governor Masaru Hayami was quoted as saying on Tuesday.

A government official who briefed reporters on Tuesday's monthly meeting of economic ministers quoted Hayami as saying: ''Uncertainty over the outlook of the U.S. economy emerged and led to the sharp rise of the yen (on Monday).''

The BOJ governor attends the meetings.

The official also quoted Hayami as saying that concern over credit risks in the Japanese financial market was growing, as shown in the rise in the Japan premium and the widening gap between yields of government bonds and corporate bonds.

Economic Planning Agency Minister Taichi Sakaiya, who also attended the meeting, quoted Hayami as saying that Japanese banks' lending had not increased despite a rise the money supply. >>
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