They must Cut Rates
bigger and faster, and stop their ridiculous quantitative tightening NOW," Trump posted on Twitter, while noting that "our problem is not China."
The central bank's decision to make no change in its rate policy -- approved on a 10-0 vote -- had been expected despite renewed pressure from President Donald Trump for the Fed to cut rates
aggressively to help accelerate economic growth.
SBI is not the first public sector bank to cut rates
. Indian Overseas Bank and Bank of Maharashtra have also reduced their MCLR by 5 bps each.
This provides additional room for central banks to cut rates
to ease monetary policy further.
QNB said it has become evident that central banks have the potential to cut rates
much further below zero than previously thought.
The question is whether we should cut rates
, when we should cut rates
and by how much we should cut rates
," Subbarao said.
It is the first time the Bank has cut rates
by more than half a percentage point since gaining its independence in 1997.
IG Index head of sales trading Tim Hughes said: "There is such a firm expectation among investors that all three central banks (Federal Reserve, BoE and ECB) will act and will cut rates
HSBC yesterday became the latest lender to cut rates
following a drop in wholesale funding costs.
David Kern, the BCC's economic adviser, called on the Bank of England's Monetary Policy Committee (MPC) to cut rates
from 5.75% next month.
From 2001 when the Fed began aggressively to cut rates
until late 2005, the world has been awash in liquidity.
A self-contained control unit provides for full programmability of cut rates
"The Bank is going to be very reluctant to cut rates
again in the near-term," said Philip Shaw, chief economist at City stockbroker Investec.
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