The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Giordano Bruno who wrote (2885)	1/16/2008 8:34:32 AM
From: DebtBomb	Read Replies (1) of 71475

ABN Amro Dismisses ECB Tough Talk, No Longer Sees Rate Increase Jan. 16 (Bloomberg) -- ABN Amro Bank NV cut its forecast for European Central Bank interest rates, the third bank to do so since last week's threat by ECB President Jean-Claude Trichet to raise borrowing costs. ABN Amro said yesterday the Frankfurt-based ECB will keep the benchmark rate at 4 percent this year. Previously, ABN Amro had predicted two increases. Last week, after Trichet promised to act ``preemptively'' to tame inflation, Societe Generale said the key rate would remain unchanged after previously predicting an increase. Dresdner Kleinwort said it now expects a rate cut. ``I know the ECB likes to talk tough, but I'm not convinced that will be followed with tough deeds,'' said Dario Perkins, the author of ABN Amro note. ``With the economy slowing and the currency continuing to appreciate, they'll remain fairly pragmatic.'' The ECB left rates unchanged on Jan. 10 as slowing economic growth prevented it from acting against faster inflation. bloomberg.com

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