“The new rumor now since the meeting, since they did not act, is that the Fed could conduct an inter-meeting rate change, ... This is something they haven't done since April 1994, but people feel if the payroll report is strong and it's accompanied by a high wage gain, the Fed might move as early as tomorrow.”
“The Bank of Japan's feeble 10 basis-point rate cut to 0.15 percent shows the head-in-sand attitude that has led to weak money supply growth and a slow economy.”
“In fact, there is a chance that the March rate cut might be just [a quarter-percentage point] and not the [half-percentage-point] the market expects,”
“Since $300 billion in yen trade each day in the markets, the G-7 is really no match for the market's firepower, ... In the end, fundamentals will dictate trading.”
