But fixed exchange rates will not work until there is a common European currency, Bundesbank officials say.

So when a couple of Bundesbank officials opened their mouths, they ran for the exits.

One Bundesbank official said that a dollar over 1.80 marks was not suitable.

But Bundesbank officials fear significantly lower rates will rekindle inflation.

Bundesbank officials issued no statement after their meeting this morning.

Bundesbank officials have said their actions are a response to rising market rates in Germany and worldwide.

The dollar gained against the mark after a Bundesbank official said the bank had room to cut interest rates.

Comments by several Bundesbank officials fed speculation of a rate cut.

For this very reason, many senior Bundesbank officials are less than enthusiastic about a single currency.

Bundesbank officials have said they will not cut rates until they can do so without risking higher inflation.