MTECHTIPS; GLOBAL HAPPENINGS The U.S. economy picked up steam in the third quarter and leaving open the possibility that the Federal Reserve could ad-just its stimulus program before the end of the year. Gross domestic product accelerated to an annual rate of 2.8 % from 2.5 % in the QC as companies built up inventories and exporters showed strength for the second consecutive quarter. The European Central Bank cut interest rates to a record low on Thursday and said it could take them lower still to prevent the euro zones recovery from stalling as inflation tumbles. Underlining its support for the euro zone, the ECB said it would prime banks with as much liquidity as required until mid-2015. The ECB cut its main refinancing rate by 25 basis points to 0.25 %. It held the rate it pays on bank deposits at zero and cut its emergency borrowing rate to 0.75 % from 1.00 %. WWW.MTECHTIPS.COM 07489294118-119
Posted on: Fri, 08 Nov 2013 07:12:39 +0000
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