Major Economies Must Now Act Together to Support Their Banks

Evening Standard - London › October 07, 2008

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Summary

AUSTRALIA has cut its rates and the Sydney stock market responded positively, closing up nearly two per cent. Pressure is growing for our own Monetary Policy Committee to follow suit on Thursday.

But at the risk of coming across as Eeyore, at a time when everybody is clutching at good news, however small, it's important to add a note of caution.

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Major Economies Must Now Act Together to Support Their Banks

Australian rates were already higher than ours the full percentage point reduction took them to six per cent and it was coupled with the Reserve Bank...

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