Dec
10
Major world central bank, in an attempt to protect the economy and bring back a bit ‘of confidence among traders after the terrorist attacks of last week, have cut the cost of money fairly decided. The rates on U.S. Fed Funds were cut by half a percentage point to 3%, a move anticipated by us rca clock to reopen the American Stock Exchange, after nearly a week of stop. A similar measure is being taken by the ECB, which has announced a cut of 50 basis points, bringing the reference rates in the euro area to 3.75%. Even the central banks of Canada, Switzerland and Sweden have cut interest rates while the Bank of Japan intervened in currency markets to defend the dollar.
no comment untill now