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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (36266)	6/29/2008 11:12:42 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 217593

Germany's Steinbrueck warns ECB against rate hike on growth concerns FRANKFURT (Thomson Financial) - German finance minister and Social Democrat Peer Steinbrueck has warned the European Central Bank not to hike interest rates this week as he fears a rate hike would accelerate the slowdown of economic growth. "The ECB needs to bear in mind that it could provide a wrong signal, as this could have a pro-cyclical impact on the slowing of the economy," he told Der Spiegel magazine in an interview. All of the 29 economists polled by Thomson Financial News expect the ECB to raise its main refinancing rate to 4.25 percent from 4.00 percent at Thursday's governing council meeting to dampen inflation. German economy minister Michael Glos, from the conservative CDU/CSU bloc, meanwhile, disagreed with Steinbrueck. Glos told Handelsblatt in a report to be published Monday, current inflation rates are "in fact alarming". "Price stability and trust in the monetary policy being guided by (price) stability are basic prerequisites to sustainable growth and higher employment," he said, rebuffing statements made by Steinbrueck. frederik.richter@thomsonreuters.com NOw let say the ECB gets stopped in it's tracks what will happen to the EUR? or - the ECB goes ahead and hikes to show independence - what will happen to the ECB <GG>