	leading industrial nations to meet in april leading industrial nations will meet again next month to review their accord on currency stability but u s officials said financial markets are convinced for now the countries will live up to commitments to speed up economic growth the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next month s talks seem likely to build on that stability a reagan administration official said the paris agreement last month was the main reason markets were calm but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels that is in fact what has happened since paris monetary analysts said stability has been helped in part by the decision of industrial nations to bury the hatchet and cease to quarrel over short term policy objectives instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings the official refused to comment however on whether the agreement included a secret pact to consider further coordinated interest rate cuts a measure industrial nations have taken jointly several times in the past year on february the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth the shake up would strengthen the u s position in future international talks i think these changes will strengthen the president s hand politically and the stronger he is politically the better off we are with the congress and the better off we are in international fora said the official an administration economic policymaker so it would be beneficial to the continued conduct of our initiatives but the official also said the administration would resist calls for a tax increase to cut the budget deficit a target europeans say is crucial to help curb economic instability last week dealers said the federal reserve intervened to stop the dollar rising against the mark which had breached to the dollar british authorities are also understood to have intervened to curb sterling s strength international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again in washington just before the april policymaking meeting of the international monetary fund the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker since paris there are signs west german growth is slowing while u s officials said they were giving japan until april to show that an economic stimulus package was in the offing signs of concern about german prospects emerged recently when bundesbank central bank president karl otto poehl told bankers he would consider cutting west german interest rates if the fed was ready to follow suit a reagan administration official said this would show there had been some change in approach on the part of the central bank in germany but he declined to comment on the prospects for action by the fed and the bundesbank if there is such a provision it is private and if i talked about it it would no longer be private said the official who asked not to be identified public comments by fed officials suggest the central bank is keeping credit conditions broadly unchanged but if the major economies continue to show sluggish growth and the u s trade deficit remains stubbornly high further coordinated action could be on the april agenda reuter 
