The Governing Council of the ECB, by means of teleconferencing, has taken the following monetary policy decisions:The minimum bid rate on the main refinancing operations of the Eurosystem will be … [Read more...]

The Bank of England's Monetary Policy Committee yesterday voted at a special meeting to reduce the official Bank Rate paid on commercial bank reserves by 0.5% to 4.5%.The Monetary Policy Committee … [Read more...]

The Federal Open Market Committee yesterday decided to lower its target for the federal funds rate 50 basis points to 1-1/2 percent. The Committee took this action in light of evidence pointing to a … [Read more...]

The US$ has surged again in recent days against the Pound as funding is attracted to help the global banking system out of its quagmire. This strength has caught many currency traders off guard. … [Read more...]

The US Senate approved the 2nd draft of the $700bn bailout plan of the financial industry late on Wednesday. The vote was 74 for theplan and 25 against it. The bill is aimed at reinvigorating … [Read more...]