Word: tanigaki
(lookup in dictionary)
(lookup stats)
Dates: during 2003-2003
Sort By: most recent first
(reverse)
...statistics are proof that his structural economic reforms are working. As a sign of the increasing political capital that the rebound has provided him, Koizumi quickly shuffled his Cabinet, reappointing his controversial finance czar Heizo Takenaka and replacing the ailing 81-year-old Finance Minister Masajuro Shiokawa with Sadakazu Tanigaki, a younger, more reform-minded legislator...
...exporters through currency intervention. Immediately after the G-7 meeting, the yen appreciated to 111 per dollar, its strongest level in nearly three years. Since 115 yen per dollar, a much weaker level, was widely assumed to be Shiokawa's target, currency traders are now waiting for Tanigaki, the new Finance Minister, to show his hand. Although he has already said that exchange rates "should stably reflect fundamentals" and that he would "take action to make sure that happens," Tanigaki hasn't yet demonstrated how much, if at all, he will allow the yen to rise. "People are waiting...
...envy the delicate task Tanigaki faces. On the one hand, he must make some attempt to soothe the concerns of other industrialized nations and to demonstrate that Japan is committed to free trade. On the other, exchange rates have a direct and measurable impact on exporters?and Japan's recovery is still fragile. Credit Suisse First Boston estimates that every 10% appreciation in the yen could cut recurring profits in the manufacturing sector by 10% and reduce annual GDP growth by nearly a third of a percentage point...