OTHER NEWS - Aug. 17, 1992

Bundesbank Sees No German Recession: Despite signs that the economy has cooled dramatically in recent months, Germany’s central bank gave no hint that it plans to relax its chokehold on monetary policy. Bundesbank Deputy President Hans Tietmeyer said the central bank saw no reason at this time to change its key Lombard lending rate, adding that it is possible the German economy could grow 2% this year. “A recession is not imminent,” Tietmeyer said. “There is no disputing the fact that we are in a difficult transition phase . . ., but if we all pull together in the right direction, the chances of a pickup in the autumn are good.”