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Article: Tokyo Said Set to Cut Interest Rates;Central Bank's Move Seen Unlikely to Stir Japan's Flat Economy
- Article from:
- The Washington Post
- Article date:
- July 26, 1992
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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In a further sign of worry in high places over the plunging
Tokyo stock market, officials of the Bank of Japan let it be known
today that they will probably be cutting interest rates shortly.
Newspapers and wire services here reported that the central bank
will probably cut its discount rate by one-half a percentage point,
to 3.25 percent, as early as Monday. Bank of Japan officials could
not be reached to confirm the reports, but cuts in the discount
rate, which is what the central bank charges on its loans to
commercial banks, are often preceded by leaks to the press.
Word of the pending cut came a day after Prime Minister Kiichi
Miyazawa and his top economic advisers met to discuss ...