Source Pravda.Ru

ECB freezes interest rates

The European Central Bank has decided to freeze interest rates as underlying inflationary tendencies are studied and ECB president Wim Duisenberg decides what action to take.

The recent gains by the Euro against the USD has helped to stabilise the economic setting, since oil imports will be cheaper. Wim Duisenberg promptly explained that the increase in the exchange rate of the Euro will not affect exports from the EU (which will therefore become more expensive).

He declared that the ECB is studying the underlying inflationary trends and that measures will be taken should the need arise. In the meantime, however, interest rates will remain unaltered, yet the ECB is aware of the possibility of turbulent times ahead: “Without forgetting the recent decrease in inflation, the perspective for price stability remains less satisfactory than the forecast”, said Duisenberg.

The ECB objective is set at an inflation rate of 2% for 2002.

John ASHTEAD PRAVDA.Ru LONDON UNITED KINGDOM

Comments
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Norwegians complain of demoralised NATO soldiers
Mikhail Gorbachev shares his thoughts on nuclear war
2018: A critical lack of common sense in world governance
2018: A critical lack of common sense in world governance
Russia unveils nuclear-powered interstellar spaceship
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
The difference between Polish and Ukrainian nationalism is plain to see
The difference between Polish and Ukrainian nationalism is plain to see
Capital outflow from Russia sets new records
World War II still continues today for the purpose of Anglo-Saxon global domination
Five-year-old boy does 4,105 pushups in 2 hours 25 minutes
On the report of Human Rights Watch against the DPRK
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Russia unveils nuclear-powered interstellar spaceship
Paris Peace Forum: A First Step but watch the Lobbies
Paris Peace Forum: A First Step but watch the Lobbies
Russia unveils nuclear-powered interstellar spaceship
Russia unveils nuclear-powered interstellar spaceship