In what maybe the start of looser financing in the overheated kingdom, the BOC dropped interest rate 27 bps last night to 7.20%. Also they lowered the reserve requirements by 1% for the smaller banks-larger banks get no break.
Fed meeting tomorrow-rumors of a 25-50 bp rate cut-I think unlikely, but I suspect DOVISH talk and another liquidity injection.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment