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Politics : Politics for Pros- moderated

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To: Elsewhere who wrote (27981)	2/5/2004 9:16:14 AM
From: Elsewhere	of 793938

European Central Bank Keeps Rates Steady By DAVID McHUGH, AP Business Writer Yahoo! News Thu, Feb 05, 2004 story.news.yahoo.com ... The euro traded Thursday at just under $1.26 — more than 53 percent higher than at its low point of 82 cents in October 2000. As long as the speed of the exchange-rate shift doesn't get out of hand, however, bank officials have indicated they think the stronger euro isn't all bad, because it keeps inflation under control — by making dollar-priced imports less expensive. That gives the bank freedom to maintain rates it says are low enough to promote growth without worrying about inflation. "Currently, the strong euro allows us to keep interest rates at a low level in an environment where demand is picking up," said ECB governing council member Ernst Welteke, also head of Germany's Bundesbank central bank, in the text of a speech delivered Tuesday in Frankfurt. ...

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