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.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (71763)	6/15/2001 12:20:11 AM
From: long-gone	Read Replies (1) \| Respond to of 116791

Thursday June 14, 11:51 pm Eastern Time Japan Monetary Policy Unchanged Japan's Central Bank Keeps Monetary Policy Unchanged Despite Growing Economic Fears TOKYO (AP) -- Japan's central bank decided Friday to keep its monetary policy unchanged, despite growing fears about the nation's deteriorating economy. The Bank of Japan, ending a two-day policy meeting, had few options for action left. In March, it already eased monetary policy to push interest rates down to near zero. But even that has done little to breathe life back into the troubled economy. BOJ Gov. Masaru Hayami has said the central bank can only do so much to help turn around an economy that needs more basic reforms such as freeing up the more competitive sectors and fixing the mounting bad debt problem at the nation's banks. Hayami said Thursday that the central bank is already ``supplying ample funds.'' The bank had been expected not to decide on further action. But earlier in the week some politicians had voiced what could be seen as hopes the bank might help out more. The warning signs about Japan's economic future have been growing lately. On Monday, the government said the economy shrank 0.2 percent for the January-March period. Analysts are saying prospects for growth in the months ahead are dim as public spending falls and exports are pulled down by a global slowdown, especially the U.S. downturn. On Thursday, the government downgraded its assessment for the economy for the fifth straight month. The Cabinet office's June report said, ``The economy is deteriorating,'' noting consumer spending is weak, business investment has peaked and dipping exports are hurting profits. The administration of wildly popular Prime Minister Junichiro Koizumi is promising to push forward with reforms that are likely to bring pain, such as unemployment and bankruptcies. He is also curtailing public spending that past administrations have relied on to boost growth. Despite prodding for BOJ action earlier in the week from members of Koizumi's Cabinet, Finance Minister Masajuro Shiokawa said early Friday the government won't be making direct monetary easing demands on the central bank. ``The government won't intervene in the BOJ's policy-making process,'' he told reporters. On Thursday, Economy Minister Heizo Takenaka had referred to a ``harmonization'' between the government and the BOJ as important for economic recovery and said he hoped the central bank would remain flexible. biz.yahoo.com