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  • Europe, N America, China cut interest rates

    The blog welcomes the co-ordinated action by central banks, including the US Federal Reserve, European Central Bank, and the Banks of England and China, in cutting interest rates . Anything that suggests policymakers are starting to get their act together is good news. But the cut seems to be more gesture...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-08-2008
  • US$4.8 trillion

    Last September, I wrote to the Financial Times on the subject of the US sub-prime disaster. At a time when many banking commentators were trying to minimise the problems, I suggested that 'a "buyer of last resort", such as the Federal government, would probably need to emerge if this situation...
    Posted to ICIS Blogs (Weblog) by Anonymous on 07-15-2008
  • Interesting Quotes (3)

    Back in August, as the credit crisis began, I tried to capture the heart of the issues it raised in a few quotes . Many people now believe that it is coming to an end . I am not so sure, and fear it may, in fact, be simply moving from Wall Street to Main Street. If it does, the following quotes may provide...
    Posted to ICIS Blogs (Weblog) by Anonymous on 05-01-2008
  • UK banks follow US lead in tightening credit

    The Bank of England’s quarterly survey of corporate credit conditions , published today, shows that companies are finding it harder to get credit, and that rates are rising. This is in spite of the massive liquidity injections made by the Bank over the past 6 months, and its 0.5% interest rate cut. The...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-13-2008
  • US banks tighten as the Fed eases

    The US Fed has dramatically cut interest rates by 1.25% recently. But as it eases, so US banks seem to be tightening their lending criteria for mortgages. Present standards are the tightest recorded Since 1990, the Fed has asked banks about their lending standards . The chart above (by Merrill Lynch...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-10-2008
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