Hallelujah, it's raining yen
by William Pesek Jr. Bloomberg
Monday, June 28, 2004 TOKYO -- It's always intriguing to see how much breathless speculation surrounds Bank of Japan policy meetings. You would think that with interest rates at zero and deflation still lingering in the economy, there would be zero suspense....
That is hardly an exciting story for central bank watchers, but Japan's revival is just too fragile for the governor, Toshihiko Fukui, to drain money from the financial system. That it's raining yen in Japan is a good thing. It's a stabilizing force in an economy that has enjoyed little stability over the last 14 years. ...
Japan's national debt tops $6.5 trillion
International Herald Tribune
Monday, June 28, 2004 TOKYO Japan's debt has topped 700 trillion yen, or $6.51 trillion, for the first time as the government issued more bonds to help cover rising welfare costs. ...
