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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: bill meehan who wrote (66348)10/4/1999 10:50:00 PM
From: John Pitera  Read Replies (1) of 86076
 
As others have pointed out on the thread Europe's thurs meeting may be much more pivotal in CB policy this week.

European rate hike fears are likely to be exacerbated following recent comments from IG Metall's president Zwickel. According to the Bild newspaper he has upped the anti and threatened to table a high 2000 wage claim unless the government concedes ground on their request to retire early at the age of 60 from 63. IG Metall has yet to lay out its stall but it is feared that a settlement at or above the 3% level would provoke the ECB to hike rates at the start of the year. Duisenberg, Issing and Noyer have all highlighted their concerns over the 2000 wage round in a fairly hawkish and uncompromising way.
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