The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Les H	6/29/2008 4:49:25 PM
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The ECB Shadow Council decided with a majority of 11 members to recommend that the ECB leave its key rate unchanged at four percent at the next policy meeting on July 3. As the month before, one member voted in favour of a rate cut of 25 basis points instead. Three members voted in favour of a rate hike of 25 basis points, up from none a month earlier. Of the eleven members in favour of no change in rates, two expressed a bias toward higher rates, two a bias toward lower rates. In the view of the Shadow Council, the ECB has more or less pre-announced a rate hike for July 3. Never in the five-year history of the Shadow Council has [such] an expected move of the ECB been so much at odds with the view of the Shadow Council. handelsblatt.com 'Interest Rates Have Been Too Low for Too Long' Jürgen Stark, 60, the chief economist of the European Central Bank (ECB), speaks with SPIEGEL about the growing threat of inflation, planned interest-rate increases and the consequences of the financial crisis. spiegel.de

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