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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?
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To: uu who wrote (1885)2/1/1999 2:07:00 AM
From: Risky Business   of 1936
 
European inflation falls again

The value of the euro continues to fall

A further cut in European interest rates is on the cards following a fall in inflation across the 11 countries that have chosen to adopt the euro, Europe's new single currency.
The prospect of a cut in interest rates when the European Central Bank meets to set the cost of borrowing next Thursday, has caused the euro to fall to new lows against the pound and the US dollar.


ECB President Wim Duisenberg has responsibility for setting interest rates
The euro fell below $1.14 and 69p, its lowest level against the dollar since it began trading on 4 January.

A fall in a country's interest rates usually means the value of the domestic currency falls as investors seek a higher return on their cash elsewhere.

There is also growing pressure from leading European politicians to cut interest rates to reduce unemployment, which has risen to alarming levels in recent years.

The annual inflation rate in the 11 nations fell to 0.8% in December, the European Union's statistics agency reported. The fall continued the steady decline of inflation in the eurozone over the past year. Annual inflation stood at 0.9% in November and 1.5% in December 1997.

The figures raise fears that the European economy is heading for a period of deflation, characterised by flat or falling prices.

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