Wednesday, 12 December 2007

Fed cuts interest rates again

The world's central banks unleashed a co-ordinated assault on the liquidity squeeze in global capital markets, as the Federal Reserve, European Central Bank, Bank of England, Bank of Canada, and the Swiss National Bank all announced measures to attack the crisis

Faced with a widening mortgage crisis, the Federal Reserve Tuesday cut a key interest rate for the third time in three months.

Source: FT

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