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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (85425)2/9/2001 2:34:25 PM
From: John Pitera  Read Replies (1) of 86076
 
Poole's comments today that this is an economic hiccup were provocative, even thought poole said there were
some signs of brighter skies, some are interpreting his comments to mean no rate cuts coming prior
to the next meeting.

Briefing comments:

Some very interesting comments yesterday from Bank of Canada Deputy Governor Charles Freedman, who noted that fixed exchange rates were one of the most common elements of all emerging market crises last decade. Of course, this is exactly why we still have concerns about Argentina, as the rigidity of the peso peg has insulated Argentina from the COMPETITIVE deflationary pressures of a global economic slowdown that have weighed heavily on the Brazilian real.
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