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

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To: Knighty Tin who wrote (34393)	7/28/2005 3:45:27 PM
From: mishedlo	Read Replies (1) of 116555

Germany´s Clement says ECB should have cut rates some time ago Thursday, July 28, 2005 8:55:35 AM afxpress.com Germany's Clement says ECB should have cut rates some time ago BERLIN (AFX) - German Economy Minister Wolfgang Clement has criticised the European Central Bank for failing to give the region's economy a boost by cutting rates at a time when conditions would have been more easily able to cope with a monetary easing "The level of rates could have been lower - some time ago, in fact. That would have given a boost" to the economy, Clement told a news conference "We had a stable price environment that certainly offered the ECB a margin for manoeuvre ...which other central banks around the world have taken advantage of." The ECB has this year resisted repeated pressure from some politicians and economists in Germany - whose economy is growing at a slower rate than most of the rest of Europe - to cut rates

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