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

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To: Paul Kern who wrote (85914)	9/5/2007 9:38:10 AM
From: Paul Kern	Read Replies (1) of 110194

ECB May Act Thu If Euro Money Market Volatility Persists -2- Last update: 9/5/2007 9:36:26 AM FRANKFURT (Dow Jones)--The European Central Bank said Wednesday that euro money market volatility has increased and it may take action Thursday to "contribute to orderly conditions." "Volatility in the euro money market has increased and the ECB is closely monitoring the situation," the ECB said in a snap statement. "Should this persist tomorrow, the ECB stands ready to contribute to orderly conditions in the euro money market," the bank said. The announcement comes only a day ahead of the ECB's monthly rate-setting meeting. Thirty-nine of the 51 private-sector banks polled by Dow Jones Newswires predict that the minimum bid rate for the ECB's weekly refinancing operations will remain at 4.0% Thursday. Overnight money market rates plunged following the ECB's snap announcement, trading at 4.09%-4.21% at 1330 GMT, from 4.64%-4.76% earlier Wednesday. -By Nina Koeppen, Emese Bartha and Nikki Houston; Dow Jones Newswires, +49 69 29725-509, nina.koeppen@dowjones.com (END) Dow Jones Newswires September 05, 2007 09:36 ET (13:36 GMT)

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