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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (486)	7/9/2001 9:36:43 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Monday July 9, 7:38 am Eastern Time BIS-G10 sees U.S. inflation contained-BOE's George biz.yahoo.com BASEL, Switzerland, July 9 (Reuters) - Central bankers from the world's major economies see U.S. inflationary pressure contained, offering scope for more U.S. rate cuts if needed, Bank of England Governor Sir Eddie George said on Monday. ``The sense was...that inflationary pressures were not apparent and that they are likely to be contained so that the scope, if there were to be a softening, for further support would still be there,'' George said of the situation in the United States. The strong dollar is also harming the U.S. economy and fuelling inflation in the euro zone, George told reporters after chairing a regular meeting of central bankers from the Group of 10 industrial nations and other countries at the Bank for International Settlements (BIS). ``The combination of exchange rates is having in many senses perverse effects. It was one of the factors contributing to the imported inflation in the euro zone, which is a factor dampening consumer spending. Equally it is a factor which is exerting a negative effect on the U.S. economy through the trade accounts,'' he said. George reiterated that G10 central bankers expected the U.S. economy to pick up in the second half of this year and into next year, echoing sentiment expresed at the weekend by Group of Seven finance ministers.