The rule, which operates under the Clean Air Act, does not stipulate a lower level of carbon output.

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The timing of any recovery for the PGMs is somewhat up in the air since it depends on factors such as how fast auto output rebounds from the Japanese quake and future economic data.

FORBES: PGM Weakness Seen As Temporary; Supply Issues, Auto Recovery Should Support Prices

But by letting some air out of the bubble sooner, the impact on inflation and output when it bursts is more modest.

ECONOMIST: Central banks, all a-quiver | The