![]() ![]() ![]() “But I am a little bit con- cerned that there are those who treat so-called ‘asset infla- tion,’ that is to say, the rise in land and stock prices, as an important part of the inflation. Mr Utsumi, who is known for speaking hte mind, said: 'Needless to say, price stability Is a prerequisite for economic growth. The central bank has argued that even though general prices increases In Japan have been modest, the rise in asset J ) rices, particularly those of and, have been unacceptably high. ![]() Mr Makoto Utsumi, Vice- Minister of Finance for Inter- national Affairs, attacked the centra bank’s policy of drivlhg up Japanese interest rates to curb inflation - a policy which has contributed to undermin- ing confidence In the Tokyo markets. The unusual public row erupted a day- after the Nikkei stock market index suffered its biggest fall since the October 1987 crash and two days after a 'plunge in Japanese bonds. Pages Minister challenges Bank of Japan on interest rate policy By Stetan Wagstyl in Tokyo THE BANK of Japan was accused vesterdav bv a Japanese Ministry of Finance official of following policies 'which might lead to instabil- ity ih the markets.”. BURMA'S military government Tias set up the first public bold- ing company with an author- ised capital of kyats lObn ($L5bn) to be subscribed wholly by the armed forces. ' Chemical ban hope An international ban mi chemi- cal weapons is within reach, according to Cari-Magnos Hyi- tenius, who has just become chairman of the negotiations - in the 40-natfonUN disarma- ment conference. Moscow cad for calm The Soviet Communist Party appealed for calm and Tmtirmyi unity as fears grew of a violent confrontati o n between popular demonstrators and the security forces this weekend. Poll confidence Elliot Richardson, the former US Attorney-General who is serving as the chief UN observer of the Nicaraguan presidential election, said he was confident there could be a free and lhir ballot on Sun- day. De.Klerk, the South African Prudent, who said he welcomed an invi- tation that the two sides should meet The ANC announcement that Mandela will lead the delega- tion suggests, for the first time, that there is sufficient support in the ANCs national execu- tive committee to give the released leader the top position in the organisation. 31,082 e THE FINANCIAL TIMES LIMITED 1990 Mandela to World Bank head ANC to lend east mission to Europe $5bn meet de Klerk to restructure Friday FebruD 8 523 A Nelson Mandela baa been chosen to lead a delegation - of the African National Con. Full text of ' EUROPE’S BUSINESS NEWSPAPER FINANCIAL TIMES No. ![]()
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