CENTRAL BANKERS SATISFIED WITH PARIS ACCORD
Central bankers said they
were generally satisfied with the response to the Paris accord
two weeks ago to stabilize currencies at around current levels.
    Speaking after a meeting at the Bank for International
Settlements (BIS), which reviewed the agreement, they also
welcomed interest rates cuts in France and today's drop in
British rates.  One top official said the rate cuts would help
to stimulate growth generally in Europe and welcomed that
countries other than West Germany were seen to be helping
sustain the economy. 
    The central bankers, who spoke on the condition they not be
named, said the meeting of governors from the Group of 10
countries also heard a report from Michel Camdessus, the new
managing director of the International Monetary Fund, on the
IMF's latest assessment of the debt crisis. In particular, they
discussed Brazil's debt moratorium.
    But there was no sense of urgency, they said, and Brazil
had made no appeal for bridging loans from the BIS or central
banks.
 Reuter
