Overseas central banks shift into high gear
The focus this morning in the interest rate world is on global central banks. For instance, the Bank of England just stepped up with a larger-than-expected 150 basis point cut. The move lowers the U.K.'s base rate to 3%. Economists were generally expecting a move of only 75 basis points.
Switzerland's central bank also threw its hat into the ring with a 50-point cut to 2% in its base rate. The Swiss National Bank wasn't scheduled to make any interest rate moves until its next meeting in December.
Finally, the European Central Bank lived up to market expectations by cutting rates 50 points to 3.25%.
Switzerland's central bank also threw its hat into the ring with a 50-point cut to 2% in its base rate. The Swiss National Bank wasn't scheduled to make any interest rate moves until its next meeting in December.
Finally, the European Central Bank lived up to market expectations by cutting rates 50 points to 3.25%.
posted by Mike Larson at
7:04 AM
1 Comments:
Mike,
Any thoughts about the potential of a US Treasury bond crash now that China has announces a $580 Billion Stimulus package. Consider the Potential, that China buys less US Treasuries and puts its money to work in its own economcy instead of the US economy
Thanks
By
Anonymous, at November 10, 2008 at 12:48 PM
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