No image available
/ 19 September 2007
The Bank of England announced on Wednesday that it will inject £10-billion into longer-term money markets next week amid the ongoing global credit squeeze. Until now, the British central bank has refrained from pumping cash into the three-month money markets.
No image available
/ 19 September 2007
The JSE extended its gains by midday on Wednesday following the rally in world markets that was driven by a strong performance on Wall Street overnight. Wall Street surged on news that the United States Federal Reserve had cut interest rates by 50 basis points, creating a positive sentiment for investors for bargain-hunting.
No image available
/ 19 September 2007
The United States Federal Reserve on Tuesday night slashed interest rates in a dramatic move designed to prevent the ailing US economy falling into recession. Abandoning its previous hardline stance against inflation, the Fed cut by half a point both its federal funds rate and the discount rate at which banks lend to each other.