<Euro> So much for the Euro replacing the Greenback,not today-ECB and interest cut.
Hi Lee:
Ran into this piece of news this morning,I do hope ECB stay the course and do the needful to sustain the economic expansion and growth.So far so good. I still haven't seen anything on the monetary policy from Mexico.
Oh wait a minute,finally I found this,not much but perhaps a hint,nothing too bad from the looks of it.
Mexico-'''The market reacted well to the monetary policy announcement from Banco de Mexico, which reiterated that the policy will support three percent growth and search for lower inflation ... it's a positive sign for foreigners,'' Carlos Samano, chief of research for Bancomer, told Reuters.
biz.yahoo.com
Anxiously waiting for CPQ to report.
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Wed, 27 Jan 1999, 6:37am EST
1/27 Euro Falls vs Dollar, Yen on Expectations ECB to Lower Interest Rates Soon
Euro Falls; Slower Growth to Prompt Lower ECB Rates (Update1)
London, Jan. 27 (Bloomberg) -- The euro fell to a two-week
low against the dollar and dropped versus the yen, on
expectations the European Central Bank will cut interest rates
in coming months to sustain economic growth in the euro region.
''The outlook for slower growth will push the ECB to cut
rates by 50 basis points by the summer,'' said Derek Halpenny, a
currency economist at Bank of Tokyo-Mitsubishi Ltd., who expects
the euro to fall to $1.12 in the next three months.
The prospect of lower interest rates, which would undermine
the return on euro deposits, pushed the euro down to $1.1516
from $1.1574 late yesterday in London. It fell to 131.64 yen
from 131.99 yesterday.
The European Central Bank is expected to exert an ''economy-
boosting'' influence over the German economy this year, the
German government said in its annual economic preview, hinting
it expects interest rates to be cut. The Finance Ministry also
repeated its forecast that growth in Europe's largest economy
will slow to 2.0 percent in 1999 from 2.8 percent in 1998......
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