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Japan is showing concern over Wednesday's cut in short-term interest rate by the US Federal Reserve Board and hopes the nation's economy would grow steadily, Kyodo News reported in Tokyo Thursday.
"There are views that production and consumption in the United States are becoming a little softer, and I think the decision was made while bearing those issues in mind," Japan's Vice Finance Minister Toshiro Muto said.
"Steady growth in the US economy is important for the global economy, and we are hoping for that," he said.
On Wednesday, the US central bank slashed its closely watched rate for the federal funds by a half percentage point to 1.25 percent in an action to prevent the US economic recovery from derailment, Kyodo said.
(Xinhua News Agency November 8, 2002)
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