New Overnight Developments Abroad: Huge Rate Cuts in New Zealand, Vietnam, and Sweden
December 4, 2008
The Swedish Riksbank repo rate was reduced 175 basis points to 2.0%. Officials signaled steadiness at that level for now. New Zealand’s cash rate was cut by 150 bps to 5.0%. At least another 50 bps and possibly more seen likely in January. Vietnam’s base rate was cut another 100 bps to 10%, and reserve requirements were [...]
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