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November 2008
- Banks Boost Interest Rates to Lure Deposits
  
  Wall Street Journal | Nov 14, 08 11:03 AM CST
  
  (Newser) - Banks are boosting interest rates on deposits in an effort to increase the supply of cash available for lending, resulting in what one consultant calls a "national price war," the Wall Street Journal reports. Many banks are pinched between the desire to build up deposits and the shrinking profit margins that come with paying higher interest on those funds. "Where you can really get hurt is on the liquidity side," says one banker. More »
- 15-Nation Eurozone Falls Into Recession
  
  Wall Street Journal | Nov 14, 08 6:22 AM CST
  
  (Newser) - The 15-nation eurozone has entered recession for the first time since the introduction of the common currency in 1999. The bloc's GDP contracted 0.2% in the second quarter, worse than expected, according to new figures released today. Several individual European nations, including giant Germany, are already contracting, and forecasters see little sign of a turnaround soon. More »
- 'Race to Zero' Under Way as Central Banks Cut Rates
  
  Bloomberg | Nov 7, 08 12:25 PM CST
  
  (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%. More »
October 2008
- Think 1% Is Low? He Could Go to Zero
  
  New York Times | Oct 30, 08 9:45 AM CDT
  
  (Newser) - Yesterday Ben Bernanke cut the federal funds rate to an ectomorphic 1%—but the Fed might not be done yet. More and more analysts are predicting that the central bank will have to cut rates all the way to zero if it wants to get the economy moving again. But don't get too excited, writes the New York Times : A 0% funds rate would apply only to interbank lending, and wouldn't mean free money for consumers. More »
- Fed Cuts Rate Half-Point to 1%
  
  Associated Press | Oct 29, 08 1:29 PM CDT
  
  (Newser) - The Federal Reserve surprised no one today, cutting interest rates by half a point, to 1%—as investors widely predicted he would, AP reports. “The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures,” the Fed said in a statement, with the financial crisis “likely to exert additional restraint on spending.” More »
- Market Dips as Eyes Turn to Fed
  
  Wall Street Journal | Oct 29, 08 8:55 AM CDT
  
  (Newser) - Stocks took a modest dip at the open today, as investors waited for a rate cut decision from the Federal Reserve. The Dow fell 53 points, while the S&P and Nasdaq crept down 0.9% and 1.1% respectively. Investors are expecting a half-point rate cut, bringing the fed funds rater down to 1%, and some believe an even bigger cut is coming, the Wall Street Journal reports. More »
- Fed Rate Cut to 1% Expected
  
  Bloomberg | Oct 29, 08 8:44 AM CDT
  
  (Newser) - Worries about inflation are taking a backseat to recession fears as the Federal Reserve today is likely to lower its benchmark rate another half-point to 1%, with the possibility it could go to zero by June if the economy doesn’t rebound, reports Bloomberg. “The issue now is how bad the recession will be,'' said one expert. More »
- As Investors Seek Cover, Central Banks Slash Rates
  
  Washington Post | Oct 28, 08 10:30 AM CDT
  
  (Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the EU plans to do the same next week. South Korea cut three-fourths of a point yesterday. More »
- Stocks Jump on Rate-Cut Hope
  
  Wall Street Journal | Oct 28, 08 8:53 AM CDT
  
  (Newser) - Stocks shot up at the bell this morning, powered by rallies overseas and speculation that another Fed rate cut is coming down the pike. The Dow rose 239, while the S&P and Nasdaq saw 2.9% and 3.3% jumps respectively. Hong Kong’s Hang Seng in particular saw a dizzying 14.4% jump after a grisly day yesterday, though one market watcher warned that Asia’s “trading mentality” could render gains ephemeral. More »
- Poor Day Ends Horrible Week
  
  MarketWatch | Oct 24, 08 3:23 PM CDT
  
  (Newser) - US stocks declined today but stopped somewhat short of total free fall after global markets plunged close to 10%. With perhaps a buffer from news of a bump in existing US home sales, the Dow fell 312.30 to close at 8,378.95, MarketWatch reports. The Nasdaq dropped 51.88 to 1,552.03, while the S&P 500 fell 31.34 to settle at 876.77. More »
- Dow Off 500; Fed Can't Calm Investors
  
  MarketWatch | Oct 15, 08 12:59 PM CDT
  
  (Newser) - Poor data and continued pessimism over the state of the US economy had the Dow down around 500 points as today’s session entered the final hours, MarketWatch reports, with hints of further interest-rate cuts from Fed chief Ben Bernanke doing nothing to boost confidence. The Dow dipped below the 9,000 level, to 8,806.58; the Nasdaq fell 98.64, to 1,680.37; and the S&P was down 64.80, to 933.21. More »
- Stocks Rocky After Rate Cuts
  
  Wall Street Journal | Oct 8, 08 9:25 AM CDT
  
  (Newser) - Stocks had a volatile morning, dropping as much as 230 points after the bell before swinging upwards once more, the Wall Street Journal reports. The Dow was up about 39 points at midmorning, while the Nasdaq and S&P gained 0.7% and 0.8% respectively, as investors digested a dramatic international central bank rate cut. “The market reaction was one of almost apathy at the beginning,” said one strategist. “Markets are still confused.” More »
- It Hasn't Been This Bad Since 1937
  
  BusinessWeek | Oct 8, 08 8:29 AM CDT
  
  (Newser) - With investors unconvinced the government’s $700 billion bailout or the Fed’s new plan to buy commercial paper will thaw frozen credit markets, markets remained trapped in “a downward spiral of fear,” reports BusinessWeek . The Dow’s 29% loss this year is its worst since 1937’s 32.8% drop. But it still has a ways to fall before it outdoes the market’s worst year ever: 1931 when the Dow plunged 52.7%. More »
- Fed Joins 5 Central Banks in Shock Rate Cut
  
  Bloomberg | Oct 8, 08 7:04 AM CDT
  
  (Newser) - The Federal Reserve and five other central banks cut interest rates by 50 basis points in an emergency attempt to stem the economic effects of the credit crisis, reports Bloomberg. The move brings the American benchmark rate to just 1.5%, while the European Central Bank and the monetary authorities of the UK, Canada, Switzerland, and Sweden all joined in the action. China also cut rates by more than a quarter-point. More »

News Sections

Newser Specials

Stories

Banks Boost Interest Rates to Lure Deposits

15-Nation Eurozone Falls Into Recession

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

Think 1% Is Low? He Could Go to Zero

Fed Cuts Rate Half-Point to 1%

Market Dips as Eyes Turn to Fed

Fed Rate Cut to 1% Expected

As Investors Seek Cover, Central Banks Slash Rates

Stocks Jump on Rate-Cut Hope

Poor Day Ends Horrible Week

Dow Off 500; Fed Can't Calm Investors

Stocks Rocky After Rate Cuts

It Hasn't Been This Bad Since 1937

Fed Joins 5 Central Banks in Shock Rate Cut