The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (12619)	10/8/2008 7:32:55 AM
From: axial	Read Replies (3) of 71456

OK, thanks. This just hit: Central banks cut interest rates Seven central banks - including the Bank of England - have cut their interest rates by 50 basis points. The UK rate move - which had not been expected until Thursday - puts interest rates at 4.5% from 5%. The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank trimmed its rate from 4.25% to 3.75%. The central banks of Canada, China, Sweden and Switzerland all took similar action in the co-ordinated move. The unprecedented step is aimed at steadying a faltering global economy and slumping stock markets. The Fed said that it had acted "in light of evidence pointing to a weakening of economic activity and a reduction in inflationary pressures". news.bbc.co.uk Jim

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