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THE ECONOMY.(TO THE POINT)
Minn. Fed balked at discount hike
Directors at the Minneapolis Fed voted to keep the discount rate at 5.25% at their Jan. 19 meeting, contrasting with decisions by other Fed banks that voted to raise the rate to 5.5%. The discount rate, in contrast with the overnight fed funds rate, is largely seen as symbolic but can signal monetary policy differences among the 12 regional Fed banks. On Jan. 31, the Fed hiked the fed funds rate to 4.5% and the discount rate to 5.5%.
NY Fed details derivatives steps
The rapidly growing $300 tril credit derivatives market has moved to erase some of the risk associated with trading these complicated financial instruments, said New York Fed President Timothy Geithner. In the past 6 months, major dealers have "begun a major effort" to close the gap between the business they undertake and their capacity to handle it. He noted the level of unconfirmed trades has fallen substantially, "for probably the first time since the inception of the market."
** The ABC/Washington Post consumer confidence poll slipped 1 point to -12 in the past week, down ...
- Japan Raises Discount Rate to Bolster Yen
- Newspaper article from: The Washington Post Margaret Shapiro May 31, 1989 700+ words
...triggered today's action. Japan had resisted international pressure to raise its discount rate, and its action is...today. The Bank of Japan last raised its rate...was necessary to allow Japan's booming economy...decision to increase the discount rate was "a precautionary...
- Japan's dancing bears: the Bank of Japan is about to raise its discount rate....
- Magazine article from: The Economist (US) March 17, 1990 700+ words
...bears The Bank of Japan is about to raise its discount rate. Tokyo's wobbly...that the Bank of Japan will raise its official discount rate from 4 1/4% to...dollar in 1985-88 Japan lowered its discount rate to 2.5% (the...
- BANK OF JAPAN CUTS DISCOUNT RATE TO 4.5% FROM 5%
- Newspaper article from: Chicago Sun-Times January 29, 1986 700+ words
...AP) The Bank of Japan said today it will cut the official discount rate to 4.5 percent...economy. The discount rate is the interest...in the Japanese discount rate and have said such...finance ministers of Japan, the United States...
- Japan expected to cut discount rate again. (Brief Article)
- Magazine article from: American Banker July 29, 1992 700+ words
...said that the Bank of Japan's halfpoint discount rate cut on Monday to 3...behind the Bank of Japan's aggressiveness...the full effect of a discount rate cut to filter through the economy, and that Japan's economy is widely...
- Tokyo stock prices jump on news of a cut in Japan's discount rate....
- Magazine article from: American Banker Sprague, Jonathan January 2, 1992 700+ words
TOKYO -- Japan's financial...to a surprise discount rate cut. But further...after the Bank of Japan cut the official discount rate to 4.5...expecting a cut as Japan's economy continued...States reduced its discount rate earlier this...
- BANK OF JAPAN CUTS DISCOUNT RATE TO 0.35%.
- News wire article from: AsiaPulse News February 13, 2001 700+ words
...Asia Pulse - The Bank of Japan has slashed its official discount rate to 0.35 per cent from...overnight call rate replaced the discount rate as the BOJ's key policy...instrument in 1995. Cutting the discount rate is thus seen by some observers...
- Japan kicking up discount rate // Increases to 3.25 percent
- Newspaper article from: Chicago Sun-Times May 31, 1989 700+ words
TOKYO Japan's central bank announced Tuesday it will raise its official discount rate by 0.75 percentage points to 3.25 percent...the official discount rate, the Bank of Japan's lending rate to commercial banks...
- Japan Cuts Discount Rate To Record Low; Move an Attempt To Revive Economy
- Newspaper article from: The Washington Post Sandra Sugawara September 8, 1995 700+ words
The Bank of Japan this morning lowered its discount rate from 1 percent to a historic low...intensified its battle to pull Japan out of its four year slump. Reports...that officials at the Bank of Japan and the Ministry of Finance and...