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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (2398)	6/25/2000 12:12:00 AM
From: John Pitera	Respond to of 33421

Notable Quotes-- Yutaka Yamaguchi, Bank of Japan Deputy Governor ?Since the indicators and information pointing toward economic improvements are gathering little by little, the conditions to lift the zero interest-rate policy are gradually coming into place.? Jiji Press, June 19, 2000. Sakuya Fujiwara, Bank of Japan Deputy Governor ?We are continuing discussions with the aim of terminating (the zero-rate policy) after we confirm that all is well with the economy. [?] Talks are close to being concluded.? Market News, June 21, 2000 Rilwanu Lukman, OPEC Secretary-General ?It's quite possible we will put more oil on the market if prices stay high for a month or so. There is an agreement that if prices go too high for our liking we will do something. Prices appear to be on the high side at the moment.? Reuters, June 22, 2000. Ali al-Naimi, Saudi Oil Minister ?We have a $25 target price, we will try to keep it there, we will do whatever needs to be done, we will watch it like a hawk.? Reuters, June 22, 2000. Wim Duisenberg, European Central Bank President ?We were convinced that if we had moved by a quarter of a percentage point, market expectations were that it would be only a step in a range and further rises could be imminent in the short run. That is what we wanted to avoid at all costs. We wanted quiet for a considerable period to come. We don?t know how long. But we wanted quiet and predictability for the coming months in the monetary field.? ?We are convinced that raising interest rates to the level that we have done (?) in no way will frustrate the prospects for robust economic growth over the two years to come. (?) Without associating myself to [the OECD forecast], it demonstrates that sustained growth is possible and even likely with interest rates significantly higher than they are at present. I also want to point to the American experience where we have seen a period of prolonged economic growth clearly above the long-term potential of the U.S. economy with interest rates 100, 200, sometimes 300 basis points higher than prevailing in Europe. So the interest elasticity of economic growth is not as large as sometimes may have been feared.? Reuters, June 20, 2000. Tony Blair, U.K. Prime Minister ?What I am opposed to (?) is Britain opting out in a two-speed Europe, to the slow lane, and letting other countries determine the circumstances upon which we can then join the fast lane. That has been one of the great dangers of British foreign policy toward Europe over a number of years. (?) I?m all in favor of enhanced cooperation, but I want to know its terms and its rules. And I want to make absolutely sure that in determining that we don?t opt out of debate (?) and then find others have determined how Europe has developed and we lose influence in it.? Reuters, June 21, 2000.