Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (56545)	7/14/2000 12:14:22 AM
From: UnBelievable	Respond to of 99985

BOJ Hayami/Fin System: Comments Suggest Ok To Hike TOKYO (Dow Jones)--Bank of Japan Governor Masaru Hayami said Friday that the nation's financial system has stabilized overall. In a speech given one business day before Monday's much-anticipated BOJ policy board meeting, Hayami said, "Japan's financial system has been in an extremely severe situation in the last few years, but recently I feel it has recovered its stability overall." Hayami noted that the BOJ's so-called blackout rule bans attendees of the board meeting from commenting on monetary policy on days before and after the meeting, so he couldn't comment directly on monetary policy. However, his remarks suggest that despite the failure of a major retailer earlier this week, the BOJ still has room to hike rates on Monday. The zero-rate policy, enacted 17 months ago, was an emergency measure to cope with the risk of a systemic failure in the nation's financial system. Hayami's comments indicate that he believes the crisis is now over. Further, Hayami said that a Bank for International Settlements meeting in Basel a few days ago, central bankers from other countries no longer expressed worries about Japan's financial system. This would imply that central bankers overseas have signaled tacit approval of a rate hike.