Rates may overshadow G7 talks
Monday 07 February 1994
The talks, to be held at Kronberg near Frankfurt on 26 February, are expected to highlight the recent disagreement between Hans Tietmeyer, Bundesbank President, and Larry Summers, Assistant US Treasury Secretary for International Affairs, over German rates.
Mr Summers called for a sharp cut in German rates during talks with Mr Tietmeyer at the World Economic Forum in Davos last month and was roundly rebuffed.
The Bundesbank last week left its key rates unchanged following an unexpectedly strong surge in German money supply growth. Broad money, M3, shot up by an annualised 8.1 per cent in December, mainly due to an influx of foreign funds but there was evidence of strong domestic loan demand.
Over the weekend Lloyd Bentsen, US Treasury chief secretary, said the US wanted the G7 group of countries to take a greater role in promoting economic reform in Russia by working more closely with the IMF and World Bank.
It is thought the IMF would welcome greater involvement by G7 nations provided this did not mean any softening of loan conditions.
Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
Swarm of killer bees sting woman 1,000 times
Malaysia Airlines Flight MH370: Oil slicks in South China Sea ‘not from missing jet’, officials say
Steve Irwin’s final words: Cameraman present at death opens up about deadly stingray attack for the first time
Oscar Pistorius trial: Athlete repeatedly throws up as court hears 'graphic details' of Reeva Steenkamp's autopsy
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
- 1 Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
- 2 Australian man Rod Sommerville reacts to bite from deadly snake by reaching for cold beer
- 3 North Korea elections: Kim Jong-un wins 100% of the vote
- 4 David Cameron resorts to paying for Facebook fans because not enough people like him
iJobs Money & Business
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£55000 - £70000 per annum + benefits: Pro-Recruitment Group: In-House Corporat...
£80000 - £100000 per annum + benefits: Pro-Recruitment Group: In-House Opportu...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...