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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (6077)	9/16/1998 9:14:00 AM
From: Joseph G.	Read Replies (1) \| Respond to of 86076

20 born every second? -g- <<Tietmeyer has spelled out that the Bundesbank has no plans to bow to calls for a global round of interest rate cuts with a view to stabilising world markets and stimulating the economy. Repeating the Bundesbank's view that Germany is not on the brink of deflation, the central bank made clear that its policy would remain focussed on keeping inflation down and paving the way for a smooth launch of the single European currency. "For monetary policy now the main task is to ensure that the stability success achieved is secured...and to create favourable start conditions for the euro," the Bundesbank said. "Monetary dynamics are generally strong in the countries of the future European monetary union. The Bundesbank will continue closely to observe the monetary and real economic situation in the whole euro area in coming months." Latest German inflation data, showing an annual inflation rate of 0.8 percent for August, showed that the goal of price stability had been reached, it said, adding however that the data had been reduced by special factors. "Viewed overall, the statistically-assessed inflation rate apparently slightly underestimates the current basic trend," it said. >>