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To: frankw1900 who wrote (2518)	11/7/2002 7:51:47 AM
From: zonder	Respond to of 6901

Very true. I cannot understand why they insist on setting interest rates. Not good for market economy. Any guesses what will happen now? Central Bank of England just announced that they are NOT decreasing rates. Central Bank of Europe just announced that they are NOT going to decrease rates either. The initial reaction could be negative ("They didn't drop rates so now EUR economy will not do well") but I think in a month or two we will see USD fall vs EUR, as money goes in the direction of higher interests earned.

To: frankw1900 who wrote (2518)	11/7/2002 8:59:54 AM
From: Ilaine	Respond to of 6901

>>Fed should get out of the interest setting business.<< The Fed funds rate is what Federal Reserve banks charge banks which borrow from Federal Reserve banks. As you say, they have to charge some rate of interest. I am hoping that mortgage rates go down again. If so, we might go for a 15 year mortgage.