The following bug has been logged online:

Bug reference:      5996
Logged by:          Brian S. Krug
Email address:      bk...@usatech.com
PostgreSQL version: 9.0.3
Operating system:   Solaris
Description:        CURRENT_TIMESTAMP uses often undesired
TRANSACTION_TIMESTAMP, instead of STATEMENT_TIMESTAMP
Details: 

CURRENT_TIMESTAMP (and CURRENT_DATE, CURRENT_TIME) return the time of the
start of the transcaction - which seems to be right after the end of the
last transaction. Thus, if you use pooled connections, CURRENT_TIMESTAMP
will return the time of the last COMMIT. This is often unintended behavior.
This tripped me up significant and I would anticipate that many have fallen
into the same trap. I recommend that CURRENT_TIMESTAMP functions as
STATEMENT_TIMESTAMP instead of as TRANSACTION_TIMESTAMP.

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