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The half-point increase in rates on Tuesday was the sixth rate increase since June.
This raises the possibility that there might not be a sixth rate cut when Fed policy makers meet at the end of June.
In sharp contrast to the Federal Reserve, which announced its sixth rate cut of the year last week, Mr. Duisenberg hammered home the point that his top priority is wringing out inflation rather than propping up growth.
Yesterday, when the Fed announced its sixth rate increase -- and the first in that series to bolster the federal funds rate target by half a percentage point, not the usual quarter-point rise -- it went out of its way to warn that it was still worried about inflation, and to hint that more increases would come unless and until the economy began to cool.
(14) This demonstrates the sixth rate of convergence for the proposed numerical algorithm (11).
If the expected cut materializes, it would be the sixth rate cut this year the Fed's most aggressive cutting in almost two decades.
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