Central banks poised to act

Central banks poised to act

news.yahoo.com

SINGAPORE/LONDON (Reuters) – Central banks are likely to launch new coordinated emergency action this week to calm panic in financial markets, which could be rocked further by data pointing to global recession.

The U.S. Federal Reserve is expected to cut rates sharply following share selloffs and currency collapses in developed economies and the emerging markets of Asia and Latin America.

Advance third-quarter U.S. economic growth data due on Thursday is expected to show a 0.5 percent contraction in gross domestic product after 2.8 percent growth the previous quarter.

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So the US is gonna cut rates again... IMO by at least 75 basis points... So it would be closer and closer to 0%...

So thursday will probably be a bad day... this morning too.

Have you all noticed the MASSIVE manipulations of the markets Friday at the opening? Printing money... it will come back biting this country's behind one day...

IMO a must read, very interesting information.

news.yahoo.com
(visit the link for the full news article)

[edit on 26-10-2008 by Vitchilo]