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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: TobagoJack who wrote (8179)	2/16/2004 6:25:45 AM
From: Haim R. Branisteanu	Read Replies (2) of 110194

Ifo's Sinn Calls on ECB to `Push' Euro Lower, Swiss Paper Says Feb. 16 (Bloomberg) -- Hans-Werner Sinn, president of the German economic institute Ifo, said the European Central Bank should ``push'' the euro below the $1.20 level, the Swiss newspaper Tages-Anzeiger cited Sinn as saying in an interview. ``The best thing would be if we would move into the direction of $1.10 again,'' the paper quoted Sinn as saying in its Saturday edition. Sinn also said that if the euro would rise above $1.30, the economic institute would see it necessary to revise its growth forecast for the German economy. Sinn said there is a 50 percent chance that Ifo will lower its economic growth forecast of 1.8 percent for Germany because of the strong euro. ``It could come better, that Germany will profit from the global economic rebound better than we expected. But, of course, the euro exchanged rate is a substantial risk,'' Sinn said. quote.bloomberg.com

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