“The Bank of Korea just unexpectedly cut its key interest rate to 2.5% from 2.75%. This is pretty remarkable, considering that market economists have already been surprised by two other central bank rate cuts this week. On Monday, the Reserve Bank of Australia unexpectedly lowered its key interest rate to 2.75% from 3%. Earlier Wednesday, the National Bank of Poland unexpectedly cut its key interest rate to 3% from 3.25%. These three surprise rate cuts follow the ECB and the Reserve Bank of India last week. Global growth slowdown, ‘currency wars,’ etc. – call it whatever you’d like, but it seems to really be getting going now.”
http://www.businessinsider.com/3-surprise-interest-rate-cuts-this-week-2013-5
Related posts:
NYPD's Crackdown on "Manspreading": Enforcing Courtesy At Gunpoint
Bitcoin Suisse AG Gets Licensed, Will Turn on ATMs in Zurich
Former California cop arrested for raping prostitutes while in uniform
Autism Nation: America's Chemical Brain Drain
B-52s Over Korea...Protecting Our Homeland?
Jon Stewart Destroys Fox News: 'Who Cares HOW We Avoided A War...'
How Newegg crushed the “shopping cart” patent and saved online retail
Is Detroit a Self-Defense Haven?
The New Subprime Meltdown
Student Jailed For Buying Common Grocery Item Is Now Suing
Shocking video: Rio police heli opens fire in slum during drug baron car chase
Now That Syrian Policy is in Total Confusion, Guess What Obama Did Today
Gun Control Stats - Compare 10 Big "Killers" In The U.S.
New York City considers allowing non-citizens to vote in local elections
The Feds Won’t Stop Terrorism This Way