With the Fed having cut rates, all eyes turn to ECB, Bank of England
Posted by: in Stocks Money NewsFiled under: Indices, S and P 500, DJIA, Housing, Federal Reserve, Recession
The interest rate cut cycle by the U.S. Federal Reserve is not over — far from it — economists/analysts said Tuesday, but along with way it will need to get a little help from its friends, the European Central Bank and the Bank of England, to combat a potential global economic downturn.
On Tuesday the Fed cut the Fed Funds rate by 75 basis points to 3.50%. The comparable U.K. and ECB interest rates are at 5.50% and 4.00%, respectively.
Economist Steve Affinito told BloggingStocks Tuesday afternoon he believes both the European Central Bank and the Bank of England will have two motivations to lower interest rates.
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