THURSDAY OCTOBER 30
How Low Can They Go?

Central banks the world over are expected to begin mimicking the Federal Reserve’s benchmark rate cut to 1% – the lowest level since 2003-2004 – and concomitant cuts by China and Norway. Already, U.K. Chancellor Alistair Darling is signaling the Bank of England might trim rates without impinging inflation targets, as the bank, he says, has “discretion” over the timing of how to meet these. But back in the U.S., Ben Bernanke is taking it one step further, suggesting he’s got the knife ready to pare rates to their lowest level, ever.

October 2008

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