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To: andreas_wonisch who wrote (52145)	8/23/2001 1:35:46 PM
From: tejek	Read Replies (2) \| Respond to of 275872

Concerning rate cuts: The ECB still thinks inflation is a risk, so they haven't eased at all during the course of this year (except one minor 25 base point cut around two months ago). In the first part of the year the rice in prices has been very high in Europe and Germany (>3%) but it got better after the oil prices started falling. So I guess there's room for a rate cut soon. Andreas, thanks. I am surprised to see that inflation was still above 3% in Germany/EU in the first half. As far as rate cuts, I don't think we can go much lower. I hope the EU starts to reverse its stance pretty soon. Many American companies, both tech and non tech, with European customers claim business is slowing fast. How true that is I don't know. ted