81.   And Economic Planning Agency Deputy Director-General Shinpei Nukaya said tax cuts are not necessary.

82.   Analysts cautiously praised the moves but noted that the cuts were far less drastic than announced by other banks.

83.   Analysts said the job cuts were necessary as part of the streamlining but were only a start.

84.   Analysts say additional job cuts are likely because changes in the telecommunications industry will see more companies, both Japanese and foreign, offering services in Japan.

85.   Analysts say other cuts are likely to be in manufacturing and customer support for consumer PCs.

86.   An interest rate cut will be bad for the Australian dollar as it will reduce the yield on deposits denominated in the currency.

87.   And all the spending and tax cuts should be for the purpose of stimulating consumer spending and shoring up finances in the states.

88.   And Carp suggested that if conditions worsened, job cuts were likely.

89.   Analysts said sterling strength was probably one of the main reasons why the Chancellor decided a rate cut was due now.

90.   Analysts said they expected any new cuts to be the last.