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

To: Hawkmoon who wrote (9116)	3/18/2008 11:57:11 PM
From: Hawkmoon	Respond to of 33421

BOJ is going to cut, even without a replacement for their chief.. bloomberg.com `In a Recession' ``In our assessment, Japan is currently in recession, mostly likely since October-December, due to the weakness in domestic demand, while U.S. recession and abrupt yen appreciation are an extra spur,'' he said. The yen surged 7.8 percent against the dollar in the past month and the Nikkei 225 Stock Average slid 19 percent this year on concern that growth in the U.S., Japan's largest export market, is stalling. The yen traded at 99.99 against the dollar at 10:33 a.m. in Tokyo from 99.85 late yesterday. Investors see a 57 percent chance the central bank will cut rates by December, according to JPMorgan Chase & Co. calculations. They see a 9 percent chance of rates being cut by April. A rate cut may come after the next Tankan report on business confidence, due April 1, or after the bank releases its semi- annual report on the economy and prices next month, Yamakawa said. Under Fukui's leadership, the bank has kept borrowing costs unchanged at 0.5 percent since February 2007. Hawk