|
|
|
G20 London Summit > Global Action
|
Europe poised to cut rates as global slump deepens(Agencies)
Updated: 2008-12-04 16:37 TOKYO/ BEIJING -- Central banks in Europe are poised to slash interest rates on Thursday to try to contain a global economic slump that appears to be spreading faster than policy makers in the industrialised countries had anticipated.
Asia-Pacific nations kept up the flood of grim news after US data overnight showed private sector employers axing jobs at the fastest pace in seven years, and that the economy, in recession for a year, had deteriorated in the past few weeks. Japanese companies slashed spending, pushing the economy even deeper into recession than the government had estimated. Australian vehicle sales plunged and the Reserve Bank of New Zealand said it probably would have to cut rates again after a record reduction of 150 basis points on Thursday. "With indicators pointing to an intensifying global adjustment in employment and business spending, our forecast of the deepest four-quarter GDP slide in the developed world since World War Two appears to be on track," said JPMorgan economists in a research note. China promised to support the push to stabilise financial markets, battered by bank failures in the United States and Europe, saying its pursuit of fast, stable growth would likely be its biggest contribution to the cause. China cut interest rates last week to spur an economy now threatened by a crisis that began with US mortgage defaults last year. Australia and Thailand slashed rates this week to avoid recession and the European Central Bank, the Bank of England and the Swedish central bank are likely to follow. The Floor Analysts expect a 50 basis point reduction from the European Central Bank and twice as much from the Bank of England and Sweden's Riksbank. With the euro zone in recession and Britain heading there, a former BOE policymaker said an even larger cut could be justified. "If zero is the floor, there is no reason not to go there immediately," Willem Buiter wrote in his Financial Times blog. The cuts forecast by analysts in Reuters polls would take the euro zone's interest rates to 2.75 percent, Sweden's to 3.75 percent and Britain's to 2 percent. US interest rates will fall below 1 percent with the next cut expected this month. As interest rates approach zero, central banks are considering other options to revive their economies and avoid the kind of deflationary spiral that gripped Japan in the 1990s. A senior Federal Reserve official said on Wednesday purchases of government debt might be useful to tackle deflation, echoing remarks from Fed Chairman Ben Bernanke. "You also do it to stimulate the economy when further reductions in interest rates are infeasible," Richmond Federal Reserve President Jeffrey Lacker told reporters. Japan resorted to debt purchases to pump money into the economy as it grappled with the problem of falling prices and zero interest rates after an asset bubble collapsed in the 1990s. The world's second-largest economy may soon be facing the same dilemma. Japanese officials are talking of the risk of deflation with the economy on course for its longest contraction on record. The 0.1 percent contraction the government estimated for third-quarter GDP appeared optimistic after a Ministry of Finance survey showed companies cut capital spending by 13 percent. |
主站蜘蛛池模板： 色成人亚洲| 精品91精品91精品国产片| 国产91精品调教在线播放| 熟女系列丰满熟妇AV| 中文字幕免费不卡二区| 性做久久久久久久| 欧美白妞大战非洲大炮| 久久人妻公开中文字幕| 鲁丝片一区二区三区免费| 亚洲人成网址| 国产免费午夜福利片在线| 欧美一级高清片久久99| 人妻久久久一区二区三区| 亚洲男人AV天堂午夜在| 亚洲清纯自偷自拍另类专区| 国产日本一区二区三区久久| √天堂中文在线最新版| 护士长在办公室躁bd| 精品国产成人午夜福利| 亚洲av无码一区二区三区人| 青青草国产自产一区二区| 老妇女性较大毛片| 久久热这里只有精品最新| 欧美性xxxxx极品| 蜜臀av黑人亚洲精品| 好男人视频www在线观看| 亚洲日本VA一区二区三区| 人妻少妇偷人无码视频| 国产成人在线综合| 重口SM一区二区三区视频| 大JI巴好深好爽又大又粗视频| 亚洲国产青草衣衣一二三区| 人成午夜大片免费视频77777| 亚洲丰满熟女一区二区蜜桃| 波多野结衣一区二区免费视频| 无码内射中文字幕岛国片 | 欧美性69式xxxx护士| 国产精品午夜福利91| 911国产自产精选| 无码日韩精品一区二区三区免费| 国产成人不卡一区二区|
