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BoJ warns of `disease' in world markets

The yen hit a two-and-a-half year high against the dollar on Tuesday as Toshihiko Fukui, governor of the Bank of Japan, expressed strong concern about the turbulence in world markets, comparing it with "a serious disease".

(...)

Mr Fukui said the volatile movements in financial markets since July suggested global markets were paying the price for "euphoria and excessive risk-taking". It was the central bank's job, he said, "to help markets adjust themselves in an orderly manner as far as possible, while keeping markets functioning at all times."



In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Nov 28th, 2007 at 07:05:09 AM EST

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