Mr. NARIMAN BEHRAVESH (Global Insight): I think it will certainly help to make this recession that we're in short and shallow.

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Nariman Behravesh, an analyst at Global Insight, believes the ECB acted on both the fund closures at BNP Paribas and the rise in the main refinancing rate.

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Builder Natwarlal Desai was cut down by bullets in Nariman Point, Bombay's top business district, and Bharat Kumar, owner of a sari shop, was slain outside his store.

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Later that night, troops regained control of Nariman House.

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Mr. NARIMAN BEHRAVESH (Chief Economist, Global Insight): I think we'll see people taking some of those savings, if you will, or what they don't need to spend on gasoline, on discretionary items like eating out and, you know, going to a game, going to a concert.

NPR: Oil and Gasoline Prices Drop Quickly, Quietly