After the March Fed’s meeting ? just enough |
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Yesterday the Fed decided to cut all interest rates by 75 bp. After this decision the main rate is at 2,25%, whooping 3 percentage points less then 8 months ago. What?s more, the discount rate (at which commercial banks may borrow directly from Fed) is at a mere 2,5% compared with 6,25% in August 2007. Even though 75 bp is definitely not a moderate adjustment, the markets were somewhat disappointed. The whole havoc around Bear Stearn?s problems and an eventual takeover by its competitor (JP Read More...
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