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To: Jeff Jordan who wrote (281275)	3/26/2004 5:33:21 AM
From: Jeff Jordan	Respond to of 436258

"Imagination is more important than knowledge." -Albert Einstein ..,;;;;,. .:((()()())):. :(()"'"'""'()): .:()"<>.<>"():. :())) ._. (((): (())\ -=- /(()) ___________ .'(()) - (())('. \| \| / ))\ /(( \ \| BUY \| ______/ /( \_/ ) \ \______/ SOME \| ________( : )_________\| STOCK \| \____._._____/ \|__________\| )===[]===( / CORV \ Best Bullish Timing Indicator Message 19951129

To: Jeff Jordan who wrote (281275)	3/26/2004 7:48:54 AM
From: zonder	Read Replies (2) \| Respond to of 436258

Received an analysis today from an economic think-tank that makes an interesting case that the EU will probably not cut rates because a base effect will lead to a sharp increase in the headline rate of inflation in coming months. There is a table of indext level of HICP headline, and it supports this view. They point to ECB's monthly report pg 46 that says "... strong base effects from energy prices should have some upward impact on the headline inflation rate in the second quarter". It's not conclusive, but they suggest ECB will take into account the base effect's potential to produce and upward spike in inflation this quarter.