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Global Interest Rate Cut
By Troy Steuwer | October 9, 2008
In an effort to divert a global economic meltdown, major banks across the world have synchronized in slashing interest rates .
Tony Fratto, a White House spokesman said, “It’s important and helpful that central banks are working in a coordinated way to deal with stress in the financial system.”
The Fed cut it’s rate from 2% to 1.5%. China, Canada, even Switzerland, also cut their rates. Consumers should see an immediate reduction for home equity and other loans.
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Category: Mortgage / Interest Rates |