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View Full Version : Central Banks Deliver 45-Minute Salvo As Growth Weakens




sailingaway
07-05-2012, 12:16 PM
Global central banks went on the offensive against the faltering world economy, cutting interest rates and increasing bond buying as a round of international stimulus gathers pace.
In a 45-minute span, the European Central Bank and People’s Bank of China cut their benchmark borrowing costs, while the Bank of England raised the size of its asset-purchase program. Two weeks ago, the Federal Reserve expanded a program lengthening the maturity of bonds it holds and Chairman Ben S. Bernanke indicated more measures will be taken if needed.

http://www.bloomberg.com/news/2012-07-05/central-banks-deliver-45-minute-salvo-as-growth-weakens.html

Acala
07-05-2012, 12:29 PM
And they claim there was no agreement to act together.

Dr.3D
07-05-2012, 01:46 PM
And they claim there was no agreement to act together.
It's a banking cartel isn't it? How can they claim that they don't collude toward their own best interests?