<Economy>Q3 GDP
Good morning Lee:
Thanks for the news on GDP so the revised number is certainly more than what the original number was (3.3%?),good news indeed.
Now come next year the European rates are expected to go down further according to pundits,I think the ECB takes over the monetary control of EU effective Jan.01,99.Overall I am getting good 'vibrations' as they say.<vbg>
Here is a bit more on European interest rate cut.
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Stockholm, Nov. 24 (Bloomberg) -- Sweden's central bank
lowered its benchmark interest rate to its lowest level in at
least four years -- the latest European central bank to reduce
borrowing costs amid slowing growth and subsiding inflation.
The Riksbank lowered its securities repurchase rate, the
repo, by a quarter point to 3.60 percent, the lowest rate since
the bank started using repos in June 1994. Neighboring Denmark
is expected to follow suit as soon as this week, analysts said.
So far this month, six European countries lowered their
borrowing costs as economic growth and inflation forecasts were
reduced for the region and as 11 nations prepare to join a
single currency in January. Sweden and Denmark aren't joining.
''Central bankers are concerned about growth in Europe,''
said Stephanie Pfeifer, an economist at Deutsche Bank in London,
who expects European rates will fall further next year.
This is Sweden's second cut this month and coincides with
cuts this month by the U.K., Spain, Portugal, Denmark and
Ireland. In addition to central bank concerns about slowing
growth as inflation ebbs, countries in the 11-nation euro zone
must lower their key rates to the 3.30 percent benchmark set by
Germany and France in time for the Jan. 1 start of the euro.......
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