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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Haim R. Branisteanu who wrote (9081)	7/12/2004 10:38:10 AM
From: mishedlo	of 116555

Solbes says ECB has no reason to raise interest rates, warns against alarmism Monday, July 12, 2004 12:02:44 PM MADRID (AFX) - Spanish Economy Minister Pedro Solbes said the ECB has grounds for leaving interest rates unchanged, and he criticised "alarmist" comments on the subject The ECB is adopting "a correct stance by not making any decision (on interest rates) at the moment", the former EU economic and monetary affairs commissioner told reporters at a conference If inflation in Europe "increases, there is a major risk of a rise in rates" but "I do not have the impression that this is the case at the moment." "Sometimes, I have the impression that people come to slightly alarmist views on the subject of interest rates," he added He said the situation in Europe has "nothing to do" with the one in the US, where interest rates are higher and the pace of growth is faster It makes no sense to assume the interest rate in Europe will follow the trend in the US, he said

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