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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56627)	11/30/2001 2:09:52 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

11/29 19:00 European Inflation Seen Slowing, Giving ECB Scope to Cut Rates By Jeffrey T. Lewis quote.bloomberg.com Brussels, Nov. 30 (Bloomberg) -- European inflation probably slowed for a sixth straight month in November as energy prices fell, giving the European Central Bank scope to lower interest rates, analysts said. Consumer prices in the dozen countries sharing the euro probably rose 2.2 percent in November from a year earlier, after rising 2.4 percent in October, according to the median estimate by 10 economists surveyed by Bloomberg News. The European Central Bank says it wants to keep price rises below 2 percent, a goal it's missed for 17 months. Inflation has slowed from a peak of 3.5 percent in May. At the same time, the German economy is shrinking, Italian retail sales are declining and French business confidence is the lowest in eight years. ``Inflation is set to fall even more, so the ECB can afford another cut,'' said Catherine Lee-Saunders, an economist at Credit Agricole Asset Management in Paris, who predicted the central bank will pare borrowing costs in February. The European Commission will release the inflation figures at noon, Brussels time, today. Gross domestic product in the countries using the euro grew 0.1 percent last quarter, the same pace as in the previous three months, the Commission said yesterday. Economists expect growth to slow further following the Sept. 11 attacks in the U.S.