Several of the world's central banks have lowered their key interest rates in a bid to stabilise global stock markets.
The European Central Bank has lowered its key rate by half a point to 3.75 percent. The ECB said in a statement that this was part of a co-ordinated effort with central banks in the United States, Britain, Canada, Sweden, and Switzerland. In Washington, the Federal Reserve has cut its federal funds rate by half a point to 1.5 percent. In Britain the Bank of England also reduced its rate by half a point. It now stands at Pakistan leader in UK for talks ...
Eurotunnel probably closed to passengers for weekend ...
Deng agrees Ј40m Chicago contract ... 4.5 percent. This came after the latest effort by Britain to stabilise the markets had little effect. The chancellor of the exchequer, Alistair Darling unveiled a rescue package worth around 50 billion pounds aimed at shoring up the banking system. He said the move amounted to a partial nationalisation of the country's leading banks. He also said the Bank of England would also extend a 200-billion-pound line of credit for British banks.
(Deutsche Welle)
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