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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (57249)1/11/2001 4:52:26 PM
From: AllansAlias  Read Replies (1) of 436258
 
I knew I had it somewhere... I copied this previously from a news item, most likely from Yahoo! UK or Forexnews. I'll see later if I can find the link. Sorry for the formatting:

In order for the ECB to maintain its credibility, it must maintain a
tight policy bias, alerting markets that it is in now way shrugging the gradual
crumbling of its policy pillars.In its last
press conference (December), the ECB signaled to the markets that it is the only
remaining hawkish central bank in the G3, and is by no means about to follow the
easing stance of the Fed, Bank of England or Bank of Japan. Not only it noted
prevailing upside price risks, but it also announced it was not raising its 4.5%
M3 reference target. This suggests the young central bank could still
realistically draw nearer to its target, which could be made possible by a
near-term rate hike.
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