Julian Callow
Julian Callow
act bank concerned control economic inflation low quite
There would have been disappointment if the Bank didn't act today. Inflation is low and under control and the ECB is quite concerned about the economic outlook.
act bank concerned control economic inflation low quite
There would have been disappointment if the Bank didn't act today, ... Inflation is low and under control and the ECB is quite concerned about the economic outlook.
began economy europe fed obvious painfully resilience showing tremendous
At that time, it was painfully obvious that the American economy was showing tremendous resilience when the Fed began tightening. Europe has nothing like that now.
bankers central data growth perhaps seeing strong survey
Some central bankers perhaps are not seeing growth as strong as the survey data suggest.
built
There is already a lot of flexibility built into the pact.
early further increase interest looking quarter rate report
This report makes a further ECB interest rate increase in the first quarter of 2006 very likely: we have been looking for this to come in early March, but with a report like this, it could come sooner.
marked stronger traditions
They are marked by different traditions and they have a stronger Anglo-Saxon background.
case crack hammer taking
It really is a case of taking a sledge hammer to crack a nut.
creative directed government imperative seems
The creative imperative seems to be directed at getting around government regulations.
acceptance appears banks central confident economic envisage further pace seems three
There seems to be acceptance that the big three central banks envisage further tightening. The G-10 appears confident about the pace of economic expansion.
europe last moment normal reckoning returning
This is the moment of reckoning for the dollar. Europe is at last returning to normal growth.
against bad european finance firmly ministers report timing
This is very bad timing for the euro, and the report won't go down well with finance ministers or the European Commission, which is firmly against relaxation.
counter economies maintain move productive strong
Any move could be counter productive for OPEC, ... They need strong economies to maintain demand.
few global past risk sharp wider
Global imbalances have become wider over the past few years. The risk is significant of a sharp adjustment.