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

To: Paxb2u who wrote (49255)	4/26/2009 4:38:03 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 217936

ECB Weber: Doesn't See Economic Growth Before Mid-2010 -Report DOW JONES NEWSWIRES Bundesbank President Axel Weber said he doesn't expect the German and euro-zone economies to grow before mid-2010, according to a news report Sunday. In an interview with the German daily Frankfurter Allgemeine Zeitung, Weber said that he sees a continued downward trend of the economy, although the pace of deterioration will slow. "We will not see positive growth rates before the second half of next year," Weber told the F.A.Z. Moreover, he said doesn't expect to see a recovery in the job market before 2011. Weber, who is a member of the European Central Bank's Governing Council, said he thinks that against this backdrop one more ECB interest rate cut, from 1.25% to 1.00%, is appropriate. He also stated that a rate of 1.00% is a "reasonable lower bound," particularly because money-market rates already are below the ECB's main refinancing rate. Since October 2008, the ECB has lowered its key interest rate by 300 basis points. Weber also said in the interview with F.A.Z. that he doesn't see any imminent risks of deflation, pointing to recent core inflation of 1.5% in Germany. Weber said he expects that the ECB will make timely changes in the course of its very expansive monetary policy. "The ECB has already proven that she is capable of changing its course, when the economic environment improves," he said, according to the report. Web site: faz.de -Frankfurt Bureau, Dow Jones Newswires; +49-69-29725-500.