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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: maceng2 who wrote (3181)	12/28/2001 9:52:59 AM
From: maceng2	of 3536

An earlier story on inflation generated by euro currency conversion news.bbc.co.uk SNIP Euro changeover could mask price rises Europe's banks have warned that the introduction of euro notes and coins could result in an increase in prices by as much as 1%. The Banking Federation of the European Union has said inflation would rise when euro notes and coins go into circulation at the beginning of 2002. Over 60% of euro-zone citizens expect prices to rise when euro notes and coins are introduced European Commission Poll The Federation's view reflects concerns that prices will be rounded up rather than down when converted into euros. However, Wim Duisenberg, president of the European Central Bank, has argued that prices will be rounded down as well as up, and he is therefore not expecting a significant effect on inflation. ENDSNIP

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