USD in new bottom
Dollar fell toward the basic currencies to new top bottoms. That happened after the Federal Reserve of USA took first decrease of some of the main interest indexes in the country during the weekend from 1979. This brought to expectings, that the comitee will take a hard decrease of the interest level of the interest with 1% to the level of 2% on the conference tomorrow.
On special meeting in the weekend the leaders of FED, had decided that the the skont interest level, from which the largest banks - prime dealers can get direct loans from the institution, to be decreased with 0.25 percentage points to the level of 3.25%. This is the first similar action, made in the weekend from nearly 30 years.
Fo the negative situation hard influence acted also the news, that American bank JP Morgan made an offer for buying of the Bear Sterns, which was in the center of the mortgage crisis. The price of buying had been 2 USD per share, which is 10 times less than the price that the shares had in closing of the stock exchange in Friday. In this way the price of Bear Stearns fell to 236,2 millions USD. The purpose for buying of the bank is to decrease the hard suspicion in the credit institutions and not to be allowed future increase of the mortgage crisis.
Labels: Financial News
posted by Zoritza Petrova @ 1:08 PM
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