World and Nation
Three European Central Banks Cut Interest Rates Sharply
The top three European central banks cut interest rates on Thursday in the face of increasingly dire evidence that much of Europe was moving into a serious recession.
World and Nation
Euro Climbs to All-Time High; Canadian Dollar Exceeds USD
The world dumped the dollar on Thursday, pushing it to an all-time low of $1.40 against the euro and to parity with the Canadian dollar for the first time in three decades as currency traders around the world digested the full implications of the Federal Reserve’s new course for interest rates.
World and Nation
European Bank Announces September Interest Rate Rise to Control Inflation
The European Central Bank signaled Thursday that it would raise interest rates in September to curb inflation amid an expanding economy. Its president, Jean-Claude Trichet, also vowed to pay “great attention” to volatile developments in global financial markets.