Global Uncoordinated Bond Market Panic …

By: Mike_Shedlock
Market Oracle
Jul 05, 2012

… ECB Cuts Rates to Record Low, Deposit Rate to Zero; Bond Market Response Was ‘Not Enough’; Words ‘Heightened Uncertainty’ Explained

Global Uncoordinated Panic
In a 45-Minute Salvo today, the ECB cuts rates to a record low 0.75 percent and reduced the deposit rate to zero. Meanwhile, the People’s Bank of China cut their benchmark borrowing costs (the second time in a month), and the Bank of England raised the size of its asset-purchase program.

Also note the central banks of Australia, the Czech Republic, Kazakhstan, Vietnam and Israel cut rates in June, while the Swiss National Bank is buying euros to defend its franc ceiling.

ECB president Mario Draghi said these events were not global coordinated easing.

The Rest…HERE

This entry was posted on Thursday, July 5th, 2012 at 4:06 pm and is filed under Conspiracy, Corruption, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.