51.   Higher Japanese rates make yen-denominated deposits more attractive, helping the yen.

52.   Higher rates also make alternatives to stocks more attractive, as bonds and bank certificates offer increasingly competitive returns.

53.   Higher rates also make bonds more attractive as investments relative to stocks.

54.   Higher rates also make fixed-income securities more attractive when compared to shares.

55.   Higher rates can make returns on bonds more attractive than shares and can also hit company profits by raising finance costs and damping consumer demand.

56.   Higher rates make corporate borrowing more expensive and can stunt business expansion, thereby damping profit growth.

57.   Higher rates make deposits in a particular currency more attractive.

58.   Higher rates make deposits in the currency more attractive to global investors.

59.   Higher rates make dollars more attractive.

60.   Higher rates make existing bonds pegged at lower official rates less attractive.