Business Services Industry
Greenspan dashes rate cut hopes.
Australasian Business Intelligence, January, 2002
Jan 29, 2002 (The Australian Financial Review
ABIX via COMTEX) -- The US Federal Reserve Board is to meet on 30 January 2002. Federal Reserve chairman, Alan Greenspan, is not expected to further cut official interest rates. According to the RBC Capital Markets senior economist, Monica Fan, Greenspan's cautiously optimistic forecast of economic recovery in the US and recently released inflation figures in Australia make it extremely unlikely that the Reserve Bank of Australia (RBA) will again cut interest rates in early 2002. Nevertheless, the Westpac general manager of economics, Bill Evans, said the RBA may cut interest rates in late 2002 if the US succumbs to a "double dip" recession.
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