Word: boost
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JAPANESE IMPORT CRISIS is becoming so severe that foreign-exchange reserves will be exhausted in six months if importing continues at present pace. To brake imports, Bank of Japan hiked discount rate from 7.7% to 8.4%. Reacting to boost, Tokyo stock market suffered biggest drop since Korean war ended...
Brazil expects a 40% boost in tourism for the comfortably cool "winter season" in July, thanks to tourist-fare cut rates introduced by air and sea lines. Hotel and restaurant prices have risen 20% in the past year, but are still only about half the U.S. level...
POSTAGE RATES will probably not go up this year, even though House Post Office Committee by 2-1 majority approved one-penny boost for first-class, airmail rates...
When the Federal Reserve Board launched its tight-money policy, it knew that it would cause trouble for the U.S. Treasury. The money squeeze was bound to force the Treasury to boost interest rates on Government bonds. But the Treasury hardly anticipated the extent of the tight-money troubles that faced it last week. Fortnight ago it announced the refinancing of $4.2 billion in Treasury notes. It offered investors (about half of them corporations) a choice of taking 3½% certificates due in eleven months or 3⅝% notes due in 1962. The new interest rates, highest offered...
...fact is that many corporations feel that they can invest their money at better returns in non-Government securities. If the Treasury hopes to carry off its refinancing program successfully-and $28.5 billion in short-term notes will become due this year-it will probably have to boost its interest rates. In any case, it can expect little help from the Federal Reserve Board. In accordance with its independent policy, the Fed did not lift a finger to buy notes in support of the Treasury's floundering new issue...