Europe eases

Doug Henwood dhenwood at
Thu Dec 3 05:47:34 PST 1998

10 European central banks, including Germany's Bundesbank but not the Bank of England, have just lowered interest rates, mostly to a common rate of 3% (except Italy, 3.5%). European stock markets are ecstatic. Bundesbank boss Hans Tietmyer denied that political pressure (meaning, in his case, from the new SocDem government) had anything to do with it, but that's hard to believe.


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