“An AAAreport released last year found that 10 percent admit to driving drunkwhen they thought their blood alcohol content was above the legal limit.This is entirely preventable, especially around the holidays,” said Bloch.Drinking drivers frequently don’t plan for other ways to get home becausethey are concerned about retrieving their vehicle. LOS ANGELES, CA, Jul 02 (MARKET WIRE) — The Automobile Club of Southern California is offering its free Tipsy Towservice to drinking drivers during the 4th of July holiday for the 12thconsecutive year The service is available from 6 p.m on Friday, July 3,to midnight on Saturday, July 4. They cite the cost oftaxis and inconvenience as the major reasons they don’t use alternatetransportation, according to the Auto Club. Tipsy Tow is available in the 13Southern California counties served by the Auto Club.Motorists, bartenders, restaurant managers, party hosts or passengers of adrinking driver may call 1-800-400-4AAA for a free tow home of up to sevenmiles. Overnight deposits atthe ECB jumped to a new 5-1/2 month high on Thursday as bankscontinued to park much of the cash back at the ECB rather thanlend it on [ID:nFAT004763]. Trichet refused to be drawn on exactly how, or when the bankwould decide this was necessary (For a graph of global interest rates, please see: here) Currencies Bonds. ECB policymakers have already begun to talk tough on theissue.

Bundesbank President Axel Weber recently raised theprospect that the ECB could bypass the banking channel if theydo not pass on the cheaper funding. Lending growth to firms andhouseholds also slowed to a record low in May. “Our call tocommercial banks in general (is) to be up to theirresponsibility, namely to ship to the real economy theextraordinary efforts which we are doing.” But Europe’s largest business lobby group said the ECB hadfailed to comprehend the dire credit situation facing firms, andurged the ECB to give more direct help to companies.[ID:nL2095548] The latest data is not encouraging. “We expect the current episode of extremely low or negativeinflation rates to be short-lived and price stability to bemaintained over the medium term,” he said. Trichet hailed last week’s massive cash injection as asuccess but acknowledged the ECB needed to keep an eye onwhether commercial banks passed on the cheaper financing tofirms and consumers.

“We are very closely observing what is going on, but we sawtoday no reason to change the concept,” he said. (For story please click [ID:nL2601049]) APPROPRIATE Trichet said the ECB was happy with the results of the ECB’s442 billion euro injection of 12-month funds last week, whichhave pushed money market rates down to record lows EURIBOR=EONIA=. “We had not envisaged any new, other measure or operation.We consider that what we do now is appropriate,” he told thenews conference. Figures this week showed euro zone prices are now falling.Trichet, however, dismissed the likelihood of serious deflationand also brushed off the chance that inflation could quicklyrise above the ECB’s two percent ceiling.

The central bank currently planned no further rate cuts oradditional unconventional stimulus. “They (ECB) believe that the present policy setting is inline with their medium term objective, and they are pleased withthe way last week’s one-year repo operation worked,” saidGoldman Sachs economist Erik Nielsen. The ECB’s rates remain the highest in Group of Seveneconomies. Earlier, Sweden’s central bank surprised markets bycutting its interest rates by a further 25 basis points to 0.25percent. Following a near-half trillion euro cash injection by theECB last week, Trichet made a point of urging banks to pass onthe benefits of ultra-cheap funding the ECB is pouring into themarket. Trichet appeared to play down the outlook for the rest ofthis year, saying economic activity would remain “weak” and that”after a phase of stabilisation, a gradual recovery withpositive quarterly growth rates is expected by mid 2010.” The comments pushed the euro down against the dollar EUR=,and bolstered analysts’ expectations that euro-zone rates willstay on hold until the fourth quarter of 2010.

National central banks will make 92 percent of thepurchases, and the ECB said they would be able to use theirdiscretion in some cases on whether bonds were eligible or not.As a rule, bonds should be rated at least AA, although somebonds rated as low as BBB- will also be eligible. He also revealed the bank will begin its unorthodoxprogramme of buying mortgage and public sector debt-backed bondson July 6, targeting maturities of between three and 10 years. The purchase program will kick in as economic data showincreasing signs the worst of the economic tempest may now havepassed, although the ECB appeared cautious. Studies show children drink more water when a waterdispenseris in the home.–Offering safety features, such as the child safety latch for hot wateroutput, which help prevent accidental dispensing.–Offering instant access to hot or cold water on demand.