Wednesday, Nov 19, 2008
Can they beat the big 'D' ?
The Market Oracle: G20 Central Banks Unite to Fight Economic Depression
Amid the worst financial crisis and market meltdowns since the 1930's, the world's top-20 central bankers and finance ministers are busy at work, inflating the world's money supply, slashing lending rates, and crafting stimulus packages, in order to prevent a normal recession from morphing into a Great Depression. The ECB has cut interest rates by 100-basis points to 3.25% since early October, and is telegraphing another 50 basis point cut at the next policy meeting in December.
Posted by v stor @ 06:08 PM (209 views) Add Comment
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