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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (9659)	11/4/1999 8:10:00 AM
From: Wally Mastroly	Respond to of 15132

ECB, BoE raise interest rates FRANKFURT, Germany - The European Central Bank raised interest rates Thursday for the first time in its short history, pushing up its main refinancing rate for the 11 countries using the euro single currency by half a percentage point to 3% from 2.5%. The move had been widely expected after top bank officials in recent days expressed concern that faster economic growth and increases in the money supply could lead to higher inflation. The increase followed an interest-rate hike by the Bank of England, which raised the securities repurchase rate to 5.50% from 5.25%, the highest level since March, suggesting the nine-member rate setting committee is concerned rising wages and strong consumer spending could push inflation above the government's target of 2.5% a year.