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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Ahda who wrote (18013)4/15/2003 9:45:57 PM
From: sea_urchin  Read Replies (1) of 81023
 
> returns are less in dollar terms which is probably inflationary meaning cost must go up in exporting nations

Seems you are right. If you look under all the propaganda, politics, litigation and other drivel:

>>>The latest move stronger [whatever that means] was prompted by worse-than-expected March consumer inflation data that has fuelled speculation that the first interest rate cut may now only come in September rather than June.<<<

m1.mny.co.za

Of course, costs continue to rise in SA mines simply because the black mine workers demand increased wages --- even though their productivity remains static, or diminishes. In order to avoid the cash crunch of these increased wages, the mines attempt to apply mechanized methods to their new stopes. Unfortunately, these methods are even more expensive than the traditional Afro way. So now the SAf mines are trapped between a "rock and a hard place" as far as their profits are concerned. And that's not talking about the fall in profits brought about by the appreciation of the rand, or the anticipated state royalties.
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