Stock markets tumble despite global interest rate cuts

Oct. 8, 2008

NEW YORK (AFP) - World stock markets suffered another dizzying slide Wednesday, with losses in Europe topping 8.0 percent, as traumatized investors brushed aside central bank interest rate cuts aimed at boosting confidence.

Two European banks cut interest rates

LONDON, Dec. 4 (UPI) -- Central banks in Britain and Sweden cut their key interest rates to 2 percent Thursday to provide liquidity to financial markets.

Mortgage rates drop again

WASHINGTON, Dec. 4 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell dramatically during the week, the Federal Home Loan Mortgage Corp. said Thursday.

Europe expects rate cuts, more bad news

LONDON, Dec. 3 (UPI) -- European financial markets were braced for large interest rate cuts across the continent in the wake of more bad economic news.

Bank of Japan moves to free up lending

TOKYO, Dec. 2 (UPI) -- The Bank of Japan said Tuesday it would initiate a series of steps to pump $32 billion into the economy.

Bernanke says rate cuts are 'feasible'

AUSTIN, Texas, Dec. 1 (UPI) -- U.S. Federal Reserve Chairman Ben Bernanke said Monday that further reductions in the current lending rate are possible.

U.S. mortgage rates mixed in week

WASHINGTON, Nov. 26 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the fourth straight week, the Federal Home Loan Mortgage Corp. said Wednesday.

Mortgage applications rise in week

WASHINGTON, Nov. 26 (UPI) -- The volume of applications for U.S. mortgages increased last week, rising by a seasonally adjusted 1.5 percent, an industry group said.

Mortgage rates fall for 3rd straight week

WASHINGTON, Nov. 20 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the third consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.

Mortgage applications drop in week

WASHINGTON, Nov. 19 (UPI) -- The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 6.2 percent, an industry group said.

Inflation falls sharply in Britain

LONDON, Nov. 18 (UPI) -- Inflation in Britain fell in October by the biggest margin since 1997, possibly signaling a central bank lending rate cut in December, an economist said.

British P.M. calls for global stimulus

NEW YORK, Nov. 14 (UPI) -- British Prime Minister Gordon Brown, in the United States for the G20 global financial summit, said Friday he expects the world economy to double in 20 years.

U.S. mortgage rates fall for second week

WASHINGTON, Nov. 13 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages declined slightly in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

China inflation dips to 4 percent

BEIJING, Nov. 11 (UPI) -- China's inflation rate fell to 4 percent in October, making it less worrisome for the government to implement its economic stimulus package, officials said.

Britain prodded reluctant banks on rates

LONDON, Nov. 9 (UPI) -- British bankers had to be strong-armed by Chancellor Alistair Darling into passing along a Bank of England interest rate cut to consumers, sources say.

British banks to lower interest rates

LONDON, Nov. 7 (UPI) -- British banks began falling in line Friday to pass on a portion of the Bank of England's interest rate cut to their customers.