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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (8123)	6/21/2004 10:13:44 AM
From: mishedlo	Respond to of 116555

China central bank says media report on interest rate hike plan 'groundless' Monday, June 21, 2004 10:38:36 AM BEIJING (AFX-ASIA) - The People's Bank of China, the country's central bank, issued a serious statement to deny a newspaper report that a plan to hike interest rates has been submitted to the State Council "The report is purely made up and is groundless," the research department of the central bank said in a statement published on the PBOC website The Economic Observer, a weekly financial newspaper, reported on June 14 that the central bank had submitted a proposal to raise interest rates to the State Council, citing an unidentified official at the research department PBOC spokesman Bai Li told AFX-Asia, when contacted later, he was unaware of any submission to the State Council of a detailed plans to raise interest rates The central bank's monetary policy committee held its quarterly meeting on Friday and did not announce any interest rate change in a statement following the meeting, easing the market's concern of such a move being implemented Mu Huaipeng, head of a research institute under the central bank, also said last week that the PBOC needs to watch the June, July and August economic data to decide if an interest rates hike is necessary fxstreet.com

To: yard_man who wrote (8123)	6/21/2004 10:36:05 AM
From: mishedlo	Respond to of 116555

French budget not alarming; spending freeze needed to meet EU rules - minister Monday, June 21, 2004 11:54:44 AM PARIS (AFX) - The state of France's public finances is "not alarming" and but spending levels must stabilize for France to meet EU commitments, Dominique Bussereau budget minister said, Dominique Bussereau France is in a similar situation to several other EU countries, he told Le Monde in an interview Busserau said priority will be given to targeted, spending open to public scrutiny and the reduction of losses in the state health insurance system, adding that "these are clear messages." He said that for the 2005 budget "the sums are complicated" as "we want to prepare a budget that respects our European commitments." "That means we need to make an effort and aim at stabilising spending," he added "Substantial savings are... necessary if we are going to keep that objective." The government expects the public sector deficit to meet Maastricht criteria in 2005, dropping to 2.9 pct from a projected 3.6 pct this year The European Commission however expects France to post a deficit of 3.6 pct in 2005, remaining above the 3.0 pct ceiling allowed fxstreet.com

To: yard_man who wrote (8123)	6/21/2004 11:13:58 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Are there options on the Reit index? What symbol? M

To: yard_man who wrote (8123)	6/21/2004 1:45:22 PM
From: mishedlo	Respond to of 116555

Tumpel-Gugerell says ECB view of economy unchanged; pleased oil price stable Monday, June 21, 2004 2:09:00 PM FRANKFURT (AFX) - European Central Bank executive board member Gertrude Tumpel-Gugerell said the ECB has not changed its general view of the economy since its meeting at the beginning of June "The evaluation remains unchanged since the last meeting of the board" of ECB governors, she told journalists on the margins of a financial event She also said she is pleased at the fall in the oil price, which she called a normalisation "Any normalisation is welcome", she said

To: yard_man who wrote (8123)	6/21/2004 1:52:24 PM
From: mishedlo	Respond to of 116555

House prices fell for the first time this year in early June, suggesting that the overheated property market may finally be cooling. Figures from property website Rightmove show that the average cost of a home in England and Wales dipped £683, or 0.4pc, during the first full week of this month as buyers start to feel the impact of four rises in interest rates. At the same time, around 10pc more homes are on the market. Rightmove reckons the market is at last slowing down, as a rise in the cost of borrowing combines with the Euro 2004 football tournament and the hot weather to curb demand. The findings come less than a week after Mervyn King, Governor of the Bank of England, warned anyone planning to buy or sell a home to think twice, as he prepared the economy for the possibility of a crash in house prices telegraph.co.uk