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Article: West Germany Rejects Looser Monetary Policy
- Article from:
- The Washington Post
- Article date:
- November 3, 1987
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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West Germany's government today rejected appeals by the United
States, other western allies and its own top private economists to
cut taxes earlier than planned to spur the nation's lackluster
economic growth and thus help boost the world economy.
The joint statement by the economics and finance ministries came
a day after Economics Minister Martin Bangemann ruled out trying to
pump up the West German economy through a major shift to a looser
monetary policy and lower interest rates.
The West German statements appeared to remove any remaining
possibility that Bonn would adopt significantly more expansionary
economic policies in the wake of last month's worldwide stock market
plunge.
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