China’s newly announced cut in interest rates is the fourth cut since mid-September and biggest since the Asian financial crisis in 1997. The People’s Bank of China lowered its benchmark one year rate to 5.58% from 6.66%, to take effect on Thursday. The central bank also lowered the reserve requirements it imposes on banks, by [...]
Posts Tagged as ‘Interest Rates’
November 6, 2008
Bank Of England Slashes Interest Rates
The Bank of England has made a bold move in slashing is benchmark Bank Rate by one and a half percentage points to 3%. The move caught markets on the hop and investors will be pouring over its statement to divine quite how much of a turn for the worse the U.K. economy has suddenly [...]
