How to set default data type as "float32" for numpy & pandas?

My RAM is 3G in Windows XP, and the "float32" data accuracy (based on Pandas 0.10 + NumPy 1.6.2) is enough for my current application. So I want to reset the default floating data type instead of 'float32' instead of 'float64' reduce memory usage. How to do it? (I know that I can explicitly put dtype = 'float32' in a function, but I just want a global setting)

And is there any bad side effect if I do this? (computing speed, compatibility with other modules, future upgrades, etc.)

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