The European Central Bank has cut interest rates by 75 basis points, to 2.5%.
This follows the UK rate cut by 1%, and most other European and Chinese cuts. And it looks like the US will cut further too, given the short term funds rate is less than 0.25%. (Literally free money!)
I suppose we will cut in India too; talks of 1.5% are in the air. And they’re saying Saturday. Whoa.
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