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

To: Wyätt Gwyön who wrote (26219)	2/10/2005 4:46:48 PM
From: ild	Respond to of 110194

From RSA: Thu, 10 Feb 2005 - 17:30 The Reserve Bank left rates unchanged after their 2 day meeting. The rand firmed slightly to R6,21/US dollar and the market fell sharply on the announcement, but recovered to where it traded, closing down just 271points to 13086. Gold gained 1,7% and Financials 0,5%. Resources closed down just 0,1%. The Reserve Bank outlined what it saw as some of the major risks in achieving the inflation targets. These included sustained strong growth in domestic demand, current account deficit, continued increase in money supply, strong demand for bank credit, and the likely impact of external developments.. On the latter point it noted "..Adjustment to existing global imbalances. ", which is reference to the growing US trade deficit. It concluded by saying "Given the presence of so many uncertainties and given the balance of risks, the MPC decided to maintain the current stance and keep the repo rate unchanged at 7,5 per cent per annum."