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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ldo79 who wrote (8587)	2/24/2004 4:06:42 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

Yes indeed, what a relief it's "only" steel and oil going up. What a con job. Thank heaven we aren't having difficulties like...., say Mexico <vbg>. At least the Mexicans are honest about it. Buy peso treasuries? thestreet.com : Reuters UPDATE - Mexico inflation 0.32 pct in first half Feb Tuesday February 24, 3:42 pm ET MEXICO CITY, Feb 24 (Reuters) - Mexico's consumer price index rose a higher-than-expected 0.32 percent in the first half of February in a fresh blow to the central bank's efforts to control inflation. The rise in consumer prices, announced on Tuesday, was much worse than analysts had expected. A Reuters survey (MEX17)of 11 financial houses showed an average forecast of 0.19 percent. A recent surge in inflation led Mexico's central bank to tighten monetary policy last Friday by raising its "short", the amount of credit it makes available to private banks. "The chances are now 100 percent ... that they will keep on raising the short this year. There is a 50-50 chance that they raise it in the next meeting," Alfredo Thorne, the Latin America economist for JP Morgan, said after the fresh data came out. The short forces banks to reduce their loans and drives up interest rates. The central bank has set a target range of 2-4 percent for inflation and it decided to tighten monetary policy after the annualized rate rose to 4.2 percent in January.