Back to earth

Article Abstract:

The Japanese yen is now worth only 70% of its April 1995 value in relation to the dollar, as Japanese investors have taken advantage of higher returns in the US. This will make Japanese products cheaper and improve turnover for exporters, and Japan might cut back on foreign operations if the surplus in its current account stops falling. Other reasons for the fall in the Japanese are the low discount rate of the Bank of Japan, which stands at 0.5%, and forecasts that interest rates will stay low for many months in 1997.

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That's enough

Article Abstract:

The announcement by the head of the International Finance Bureau of the Japanese Ministry of Finance, Eisuke Sakakibara, that the Ministry does not intend to help the Japanese yen to fall further, appears to be based on government fears that the economy could be damaged by the currency falling too quickly. According to economists, Sakakibara is likely to want the yen to fall, but at a slower pace. The announcement had the effect of increasing the value of the Japanese yen.

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The big stick: Japan's new financial cure: allowing banks to fail

Article Abstract:

The Japanese authorities intervened to shut down Hanwa Bank in November 1996, a move that has been welcomed by some as a demonstration that the new administration is serious about reforms in the financial sector. Paul Heaton, a Deutsche Morgan Grenfell financial analyst, believes that the closure could be a watershed. Analysts predict that around a third of the country's financial institutions will not survive in their current form by the end of the next decade.

Financial Services, Finance and Insurance, Financial institutions, Bank failures

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