Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Box-By-The-Riviera™ who wrote (96239)	4/19/2001 12:50:34 PM
From: pater tenebrarum	Read Replies (2) of 436258

some quotes: <<But traders said the European currency's gains were limited as investors weighed those concerns against the view that the European Central Bank has slipped further behind the curve in easing monetary policy. The market remained concerned about euro zone growth prospects, with the ECB appearing deaf to market calls for a rate cut as insurance for growth, and instead focusing on price stability.>> price stability, the internal and external value of the currency, are the ECB's mandate. economic growth is not. <<Euro zone inflation data released on Thursday showed a higher-than-expected 2.6 percent rise in consumer prices in March year-on-year, suggesting the ECB might not be able to cut rates any time soon. ``The upside for the euro looks limited,'' said Tony Norfield, head of treasury research at ABN Amro. ``The CPI backs up the ECB's decision not to cut rates.''>> exactly...no reason to cut rates with inflation (honest numbers in this case, not hedonically indexed ones) AND MONEY SUPPLY GROWTH (deliberately not mentioned?) remaining above target. <<However, traders said the euro was finding some support from the fact that U.S. rates were now a quarter percentage point below the euro zone's 4.75 percent. That meant it actually cost speculators to short the currency, to borrow euros to buy dollars. Previously, they made money even if the euro did not fall.>> here you have the REAL reason for all the propaganda and pushing...the carry trade sees a source of free money drying up.

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