Skip to: Content
Skip to: Site Navigation
Skip to: Search
Newser - Current News - Breaking Stories

SPONSORED NEWS ARCHIVE

CHAIRMAN BERNANKE SPEAKS ON POLICY COORDINATION AMONG CENTRAL BANKS

Article from: US Fed News Service, Including US State News Article date: November 14, 2008

The chairman of the Federal Reserve Bank issued the text of the following speech:

Chairman Ben S. Bernanke At the Fifth European Central Bank Central Banking Conference, The Euro at Ten: Lessons and Challenges, Frankfurt, Germany

Policy Coordination Among Central Banks

I am pleased to be here in Frankfurt today to celebrate the 10th anniversary of the euro. The euro's introduction was a remarkable achievement. As an academic, I did a bit of consulting for the European Monetary Institute, the European Central Bank's (ECB) predecessor, on monetary transmission mechanisms; I thus played a part, ...

Read the rest of this article with a Free Trial at HighBeam Research.
Newser gathers stories from across the web and packs what you need to know into about 120 words.
Check out these stories related to your search. Visit our grid for the latest news.

'Race to Zero' Under Way as Central Banks Cut Rates

Posted Nov 7, 08 12:25 PM CST in Business 

'Race to Zero' Under Way as Central Banks Cut Rates
Source: AP Photo

(Newser) – Interest rates around the world are falling, with no end in sight as central banks hack away at obstacles to lending and try to jump-start their economies, Bloomberg reports. With the US rate at 1%, the Bank of England yesterday cut its key figure to 3%, the lowest since 1955, and the European Central Bank cut its rate by half a point, to 3.25%.

“It’s the race to zero,” one London economist said. “There’s no obstacle to more rate cuts.” As the crisis deepens, free money is becoming a more realistic possibility across the globe. A combination of reluctant spenders and cautious banks has created unparalleled stagnation; central banks hope deeper cuts convince banks to pass lower rates on to consumers.

Source: Bloomberg

More about:  Financial Crisis • Federal Reserve • Ben Bernanke • interest rate cut • European Central Bank • Bank of England

MORE RELATED NEWSER STORIES

Fed Pours $200B Into Global Credit Relief Push

Central banks around the world try to ease liquidity problem

Associated Press Associated Press Mar 11, 08 10:15 AM CDT
(Newser) - The Fed will inject huge quantities of cash into financial markets as part of a coordinated global attack on the credit crisis, Ben Bernanke announced today. The central bank will loan out another $200 billion, this time on a 28-day basis rather than overnight, the AP reports. The effort will coordinate with the European Central Bank and the central banks of Canada, England, and Switzerland. More »

More about:  Financial Crisis • Federal Reserve • credit crisis • US economy • Ben Bernanke • interest rate • European Central Bank • Bank of England • liquidity • Swiss National Bank • Royal Bank of Canada

 Fed Cuts Rate to 0%-0.25% 

Target is record low as Reserve battles recession

Associated Press Associated Press Dec 16, 08 1:40 PM CST
(AP) - The Federal Reserve today cut its target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat a severe financial crisis and prolonged recession. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of 0% to 0.25%. More »

More about:  Financial Crisis • Federal Reserve • credit crisis • recession • Ben Bernanke • interest rate • interest rate cut • Fed funds rate

Record Low Rates Leave Investors Cold

Cut is likely tomorrow, but Wall Street wants more varied approach

Wall Street Journal Wall Street Journal Dec 15, 08 9:14 AM CST
(Newser) - Tomorrow the Federal Reserve will probably cut its target interest rate to 0.5%, the lowest in decades. But, the Wall Street Journal reports, investors are unlikely to be cheered by a further slash, instead waiting to hear what further measures Fed chief Ben Bernanke is preparing now that interest rate cuts have essentially stopped working. More »

More about:  Financial Crisis • Federal Reserve • Ben Bernanke • interest rate • interest rate cut


Other Business Stories