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Article: Opening the door to Japan's short-term money markets.
- Article from:
- The Economist (US)
- Article date:
- April 1, 1989
CopyrightCOPYRIGHT 1989 Economist Newspaper 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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Opening the door to Japan's short-term money markets
BULLYING and flattery long got them nowhere. But now both the Bank of Japan and the Federal Reserve Board of Washington - which have been urging the Japanese Ministry of Finance to expand the country's tiny two-year-old treasury-bill (TB) market - suddenly find themselves pushing on an open door. In the financial year starting this month the finance ministry will double the amount of TBs issued to [yen]4 trillion ($30 billion) in an effort to diversify Tokyo's money markets and upgrade the international status of the yen. The ministry, which had planned to issue [yen]800 billion of TBs in March, hurriedly upped ...