Central Banks cut rates by 50 basis points

Idu · 08-10-2008 11:45am #1

Exactly what it says on the tin. Co-ordinated effort between the various central banks(excluding Japan).

Law makers are running out of bullets fairly quickly. If this doesnt work then I cant see what else they have in their armours

ranger4 · 08-10-2008 7:22pm

janets_on_clubs wrote: »

Exactly what it says on the tin. Co-ordinated effort between the various central banks(excluding Japan).

Law makers are running out of bullets fairly quickly. If this doesnt work then I cant see what else they have in their armours

I agree, the outlook looks very bad over the medium term.

TheBazman · 09-10-2008 7:35am

Disappointing reaction so far - it seems as if interbank rates today are going to set marginally higher than yesterday despite the rate cut. If Banks pass on the cut to mortgage holders they will have just compressed their margin even more - not great for those trying to recapitalise

daheff · 09-10-2008 11:42am

The only other real option that is there is to nationalise the banks....but thats a last ditch hail mary solution that i dont think anybody wants to do

TheBazman · 09-10-2008 12:48pm

daheff wrote: »

The only other real option that is there is to nationalise the banks....but thats a last ditch hail mary solution that i dont think anybody wants to do

Nationalisation/part Nationalisation is the route that a lot of countries seem to be going down now.

FWIW AIB and BOI are both passing on the rate cut in full

Central Banks cut rates by 50 basis points

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