Europe’s central banks make drastic cuts in interest rates to ward off a recession. Three European central banks cut interest rates. The Swedish central bank announced a reduction of 1.25%. The Britain’s central bank carries through a reduction of 1%. As last, the European Central Bank reduces the benchmark rate by 0.75%. The central banks make this dicision to offer an answer to the threatening recession. By cutting interest-rates they want to boost the economic activity. The big rate cuts brings relief as European centrals banks ride to the rescue. But it shows also the earnestness of the situation.
donderdag 18 december 2008
Tumbling rates
Europe’s central banks make drastic cuts in interest rates to ward off a recession. Three European central banks cut interest rates. The Swedish central bank announced a reduction of 1.25%. The Britain’s central bank carries through a reduction of 1%. As last, the European Central Bank reduces the benchmark rate by 0.75%. The central banks make this dicision to offer an answer to the threatening recession. By cutting interest-rates they want to boost the economic activity. The big rate cuts brings relief as European centrals banks ride to the rescue. But it shows also the earnestness of the situation.
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