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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (752)	10/23/2000 8:19:12 PM
From: Don Green	Read Replies (1) \| Respond to of 50729

BOJ Watch: Demographics Puncture Land Price Myth Tuesday, October 24, 2000 TOKYO (Nikkei)--Do not expect a significant rebound in overall demand for land in Japan. That's the thrust of a report prepared privately by two Bank of Japan economists, but issued by the central bank on Monday. The report -- the first comprehensive analysis of land prices released by the central bank in roughly a decade -- contends that the demographic forces of an aging population and a falling birth rate have altered the environment that once supported the myth of ever-rising land prices. It also spotlights a growing polarization in price trends for land where the potential of future returns is high and for properties where the expected return is not high. The latest report is attracting notice from economists, market participants and other BOJ watchers in part because the paper issued a decade ago was so prescient. That report sounded a warning bell over the sharp runup in land prices and predicted that a sudden drop could cause damage to the broader economy. It also contained an indirect hint of a coming tightening of monetary policy by blaming the BOJ's loose monetary stance for the surge in land prices. But after a gap of 10 years, the latest report states that there is no evidence of a direct correlation between land prices and the macroeconomy. The underlying thrust seems to be to deny any links between land price trends and monetary policy. According to one BOJ insider, the conclusion is that it does not make sense to focus on land prices or other measures in isolation while the economy is undergoing structural reform. "The best method is to form an overall assessment," the official says. But some private-sector economists are not satisfied with that explanation. "Simply emphasizing the importance of a comprehensive assessment does not raise the transparency of monetary policy," says Yasunari Ueno, chief market economist at Mizuho Securities Co. (The Nikkei Financial Daily Tuesday edition)

To: ms.smartest.person who wrote (752)	11/20/2000 12:21:19 AM
From: $Mogul	Respond to of 50729

Peru's Besieged Fujimori to Quit as Crisis Deepens (Update5) By James Craig Lima, Nov. 19 (Bloomberg) -- Peru's President Alberto Fujimori, engulfed by a political crisis and corruption scandal, will step down within 48 hours, ending more than a decade of increasingly authoritarian rule. Fujimori, who is traveling in Japan, will announce his resignation in a letter to Congress ``on Monday or Tuesday at the latest,'' Cabinet chief Federico Salas said. Second Vice President Ricardo Marquez plans to assume the presidency when Fujimori quits, though the opposition-held Congress could try to declare the presidency vacant. quote.bloomberg.com