{"id":8928,"date":"2008-10-08T16:42:16","date_gmt":"2008-10-08T16:42:16","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/coordinated_worldwide_rate_cut_done_to_try_to_calm_markets_bolster_confiden\/"},"modified":"2008-10-08T16:42:16","modified_gmt":"2008-10-08T16:42:16","slug":"coordinated_worldwide_rate_cut_done_to_try_to_calm_markets_bolster_confiden","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=8928","title":{"rendered":"Coordinated Worldwide Rate Cut Done to try to Calm Markets, Bolster Confidence"},"content":{"rendered":"<p>Central bankers around the world took emergency action to end the market meltdown today with co-ordinated interest rate cuts designed to ease the credit crunch and lift to the global economy.<\/p>\n<p>The Bank of England said at midday that it was cutting its key rate by half a point to 4.50 per cent even though inflation remains above target. The decision was due tomorrow.<\/p>\n<p>At the exact same time, the Federal Reserve, European Central Bank and Swiss, Canadian, Swedish and Chinese central banks all announced similar cuts.<\/p>\n<p>The emergency rate cuts came only a few hours after the Government set out a radical \u00c2\u00a3500 billion package today to restore confidence in the UK banking sector and break the crippling logjam in credit markets.<\/p>\n<p><i><a href=\"http:\/\/www.timesonline.co.uk\/tol\/news\/uk\/article4906578.ece\">Read it all.  The ECB cutting is a big positive&#8211;KSH<\/a><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central bankers around the world took emergency action to end the market meltdown today with co-ordinated interest rate cuts designed to ease the credit crunch and lift to the global economy. The Bank of England said at midday that it<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=8928\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,149,119,596],"tags":[],"class_list":["post-8928","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-economy","category-globalization","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/8928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8928"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/8928\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}