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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (38303)	4/30/2003 1:22:26 AM
From: AugustWest	Respond to of 57110

Coming to an economy near you, soon.... (COMTEX) B: Japan's central bank raises target for excess cash in system< p_topic:Business; B: Japan's central bank raises target for excess cash in system< ap_topic:Busine s; TOKYO, Apr 30, 2003 (AP WorldStream via COMTEX) -- Japan's central bank raised its target for extra cash in the financial system by 5 trillion yen (US$ 42 billion) to up to 27 trillion yen (US$226 billion) Wednesday in an effort to ensure stability in the troubled economy. The Bank of Japan decided at a policy board meeting to raise the target for that excess cash flow to between 22 trillion yen (US$184 billion) and 27 trillion yen (US$226 billion), up from between 17 trillion yen (US$142 billion) and 22 trillion yen (US$184 billion). The central bank sets the cash target for the accounts held there by commercial banks to allow more money to flow through the system. Japan has been fighting a slowdown for more than a decade. The Tokyo stock market that had been languishing for years began a nose-dive this year over the fears about the war in Iraq and has continued to reach new 20-year lows repeatedly. The Bank of Japan has said it is considering unconventional steps, such as buying securities, to push the nation's economy toward recovery. The bank has few regular options left, as it has kept interest rates at near zero since 2001. Copyright 2003 Associated Press, All rights reserved -0- APO Priority=r (PROFILE (WS SL:BC-AS-FIN-ECO--Japan-Central Bank; CT:f; (REG:ASIA;) (REG:ENGL;) (REG:EURO;) (REG:BRIT;) (REG:SCAN;) (REG:MEST;) (REG:AFRI;) (LANG:ENGLISH;)) ) KEYWORD: TOKYO * end of story *