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Reuters interviews Hugh Patrick, Junichi Ujiie, and Shuhei Abe-- "Japan markets jittery ahead of BOJ"

Reuters interviews Hugh Patrick, Junichi Ujiie, and Shuhei Abe-- "Japan markets jittery ahead of BOJ"
Published
May 15, 2006
Publication
CBS Newsroom
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News Type(s)
Japan Center News

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With Japan's economy at its strongest in years, government officials, local companies and investors are taking note.The Nikkei share average has slipped 5 in the last week, due mainly to the yen's rise to multi-month highs against the dollar, as a strong currency hits Japanese exporters like Toyota or Canon selling products overseas.Much of that push stems from ideas the Bank of Japan will hike interest rates from zero, perhaps as soon as June, because of growth and an end to deflation.Junichi Ujiie, Chairman, Nomura Holdings"I would anticipate that the Bank of Japan will take a very careful approach in raising the policy rate, and probably that the speed of the policy rise may be slower than the market is expecting."Shuhei Abe, CEO, SPARX Asset Management"In a way it's very healthy because if everyone makes 40 every year, the market would be destroyed like we had in past years." Professor Hugh Patrick, Columbia Business School"There may be some slowdown, but that's very different from return to zero growth that we have had in the past. This time for the first time in 15 years, I'm really quite optimistic." 
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