Global Interest Rates Cuts To Spearhead Fight Against Financial Crisis

Reuters:

Thailand led a new round of global interest rates cuts on Wednesday, with countries from Europe to New Zealand expected to follow in the next few days to fight an unrelenting financial crisis.

In London, the British government said it would help families and small businesses survive an impending downturn. But it made no mention of measures to force banks to lend more as it laid out a policy agenda for a difficult year ahead.

Read the whole story: Reuters

Comments

[Peter007]

Its good that the cost of capital has come down. Now its about time to make it available. Where is the capital that is ready to go into long term investments.?

Its interesting to note , that mortgage rates have been over 6% this past year as we went into a depression in the housing market. Why has it taken so long for mortgage rates to drop? Lower rates could have supported housing prices and prevented the housing meltdown that lead to the financial crisis to begin with. Was it because the Fed was overly concerned about inflation? Oil at $146 a barrel.? Somebody made the call to keep rates high.