MoneyRates Blog
Central Banks Coordinate and Drop Interest Rates 50 Points
By MoneyRates team | Money-Rates Columnist
Global stock market selloffs and dire economic predictions have prompted a concerted effort by central banks to calm financial markets. Central Banks in the United States and Europe have lowered their key lending rate 50 points today.
Joint statement Issued 10/8/2008:
Throughout the current financial crisis, central banks have engaged incontinuous close consultation and have cooperated in [...]
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Dire Prediction from ex-Chief Economist from IMF
By MoneyRates team | Money-Rates Columnist
Professor Kenneth Rogoff who was the chief economist for the International Monetary Fund for 5 years has issued some stark warnings about the banking and credit crisis in the United States which have reverberated around Europe and Asis. Among Rogoff’s predictions:
* A major bank in the United State will fail
* The financial crisis in the [...]
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Global Interest Rates Increasing
By MoneyRates team | Money-Rates Columnist
Central banks across the world have reacted this July by increasing their benchmark lending rates in an effort to control domestic inflation. Included in the list of central banks to recently intervene with rate increases were (1) The Bank of Canada who increased their overnight lending rate to 4.25% and (2) The People’s Bank of [...]
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