ForexInfoCenter

Global: Coordinated central bank action

Posted by Danske Bank A/S in October 8th 2008  
Overview: Today at 13:00 the Federal Reserve, the European Central Bank, Bank of England, the Swiss Na-tional Bank, Riksbanken in Sweden and Bank of Canada in a coordinated action cut key policy rates by 50bp. The People's Bank of China lowered the lending rate by 27bp. The Bank of Japan did not participate in the coordinated action but said it would stay in close contact with other central banks. The coordinated action is a strong signal that the central banks are now working together to

Read More...

Filed under: Fundamental