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Article: JAPAN STOCKS UNLIKELY TO RISE MUCH ON 25-BASIS-PT U.S. RATE CUT.
- Article from:
- AsiaPulse News
- Article date:
- September 18, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Sept 18 Asia Pulse - With a U.S. interest rate reduction of 25 basis points already factored into Tokyo stocks, the market is unlikely to receive a major boost from a rate cut of that size.
The U.S. Federal Reserve Board is slated to make a rate decision Tuesday, with many expecting a cut of 25 basis points.
"There are signs of the credit crunch easing, such as the fact that money market interest rates stopped rising" toward the weekend, said Seiichiro Iwasawa, chief strategist at Nomura Securities Co.
The Fed is facing the tough task of holding down inflation without smothering the economy. If the market regains its composure, there ...