>The central bank also said it would cut its discount rate, which it charges >on its loans to commercial banks, to 0.10 percent from 0.25 percent and it >expanded its emergency Lombard lending facility. . . . >Economics Minister Heizo Takenaka, a persistent easing proponent who >attended the BOJ policy meeting as a government representative, hailed the >move as ``swift'' and said the BOJ was reaching the limit of orthodox easing >measures. . . . >The concerted monetary easing had cheered up the battered Tokyo stock market >on Tuesday, with the benchmark Nikkei average (.N225) rising more than four >percent at one point to come within shouting distance of the psychologically >crucial 10,000 level. > >But, reflecting how fragile confidence in financial markets has become, the >Nikkei halved its gains in the closing minutes of trade after reports of >bomb threats in Tokyo buildings housing international banks and on news that >Afghanistan's ruling Taliban was threatening a holy war against the United >States. Tom Walker Bowen Island, BC 604 947 2213
