P203 CEEFAX 203  Fri  6 May  21:11/44
     
      ISSING ANSWERS       
      POLICY CHARGES       
 
  The Bundesbank has countered recent 
  criticism of its monetary policy.   
                                      
  Chief economist Otmar Issink said   
  hj rejected the view aired earlier  
  this week by council mjmbju Hans-   
  Jurgjn Kobnick that its monetary    
  policy was "directionless".         
                                      
  He sbid in an interview there was   
  no doubt about the orientation of   
  monetary policy towards the long-   
  term development of money supply.   
                                      
  But one cannot follow "old recipes" 
  given the special factors currently 
  influencing M3, hj said.            
 
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