Business Services Industry
Rates to drop to historic low.
Australasian Business Intelligence, September, 2001
Oct 1, 2001 (The Australian
ABIX via COMTEX) -- In Australia and the United States, central banking authorities are considering lowering interest rates. The threat of a global recession is prompting the Reserve Bank of Australia and the US Federal Reserve Board to act on interest rates, with Australia's rate cut expected to be 0.25. Kenneth Rogoff, the International Monetary Fund chief economist, said the aftermath of terrorism incidents on the US would create a more difficult economic climate. Westpac Bank is predicting a cut of 50 basis points in Australia, with HSBC suggestions that the Reserve Bank will not stand against pressure to reduce rates by 0.25.
UNITED STATES. FEDERAL RESERVE
BOARD:
RESERVE BANK OF AUSTRALIA:
...
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