Doug Henwood wrote:
> 10 European central banks, including Germany's Bundesbank but not the Bank
> of England, have just lowered interest rates, mostly to a common rate of 3%
> (except Italy, 3.5%). European stock markets are ecstatic. Bundesbank boss
> Hans Tietmyer denied that political pressure (meaning, in his case, from
> the new SocDem government) had anything to do with it, but that's hard to
> believe.
interest rates have been lowered here in auastralia too in the last couple of days, though it's hard to beleive this has anything to do with social democratic pressures, given the liberal-national govt.
nonetheless, i'm prepared to think that there may well be a shift toward freeing up money and credit, but what do you think this might be in aid of?
best,
angela