--Japan MOF's Muto says US rate cut beneficial for world econ
--Japan MOF's Muto says US interest rate cut "appropriate"
By Stephen Cannon, BridgeNews
Tokyo--Feb. 1--Vice Finance Minister Toshiro Muto told BridgeNews Thursday that although the United States has made moves to loosen monetary policy and boost fiscal stimulus to prevent the U.S. slowdown from hurting the global economy, he doesn't think that Japan needs any additional monetary or fiscal policy measures. Muto also said that the Federal Reserve Board's decision Wednesday to cut the Federal Fund Rate 50 basis points was "appropriate."
* * * "Japan's economy is on a recovery path and I don' think that any further economic measures need to be taken at this time," the top bureaucrat at the Finance Ministry told BridgeNews in MOF hallways. Muto also praised the Fed's Wednesday move saying, "The Fed responded accordingly based on various economic factors. I think the rate cut will be good for the world economy as well." End
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