Interest Rate Roundup

Wednesday, December 03, 2008

Overseas interest rate update -- cuts all around

This week has been a big one, at least as far as foreign central banks are concerned. The Reserve Bank of Australia cut that country's benchmark interest rate by 1 percentage point to 4.25% on December 2. The Reserve Bank in New Zealand cut its benchmark rate by a whopping 1.5 percentage points to 5% yesterday. Sweden's Riksbank went one further, cutting rates by 175 basis points to 2%. Meanwhile, the Bank of England cut rates by 1 percentage point to 2% and the European Central Bank cut by a larger-than-expected 75 basis points to 2.5%.

1 Comments:

  • Mike-

    Do you expect the dollar to continue up for a bit longer on this news?

    Also, how long until these other nations start their massive bailout programs, or are we the only ones in this much trouble.

    Brian

    By Anonymous Brian, at December 3, 2008 at 5:36 PM  

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