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

To: PaulM who wrote (33615)	5/10/1999 10:40:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116790

Paul, this is getting hillarious.. Miyazawa says not mulling Japan gold reserve sales TOKYO, May 11 (Reuters) - Japan's Finance Minister Kiichi Miyazawa said on Tuesday that his ministry and the Bank of Japan (BOJ) were not considering selling Japan's gold reserves after Britain's decision to sell some of its gold. Asked if Japan would consider selling some of its gold reserves following Britain's recent decision to do so, Miyazawa told a news conference: ''We and the BOJ are not considering anything special right now.'' Asked about remarks by Economic Planning Agency Minister Taichi Sakaiya suggesting that a supplementary budget for this business year that started on April 1 was a policy option, Miyazawa said: ''That's not something to discuss now. My stance has not changed.'' Asked about Sakaiya's comments that he wanted to monitor economic conditions in the April-June quarter before considering a supplementary budget, Miyazawa said: ''I don't know about the future, but I can understand his (Sakaiya's) intention to watch economic conditions in the April-June quarter.'' He added that he was not specifically suggesting that Japan would need to consider a supplementary budget around that period. Miyazawa has repeatedly ruled out the need to consider a supplementary budget at the present time. Regarding recent movements in Japan's long-term interest rates, Miyazawa said he would not comment on market movements, but added that he trusted policy actions taken by BOJ Governor Masaru Hayami. Miyazawa also said that he hoped to address a meeting of Asia-Pacific Economic Cooperation finance ministers this weekend regarding the region's economic and financial conditions and what Japan could do for Southeast Asian economies.