Global central banks announce coordinated interest-rate cuts
Real Estate Investment SmartBrief | 10/08/2008
Central banks in the U.S., Europe, England, Switzerland, Canada and
Sweden lowered interest rates in a coordinated effort to curb
unprecedented turmoil in the global markets. The Federal Reserve reduced
its key federal funds rate to 1.5% and cut its discount rate to 1.75%.
The European Central Bank and Bank of England both cut their rates by a
half-point to 3.75% and 4.5%, respectively. Read the
statement from the Federal Reserve.
Wall Street Journal, The (subscription required) (10/08)
Reuters (10/08)
CNBC (10/08)
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