Forex News and Rumors – Afternoon Update

U.S. Stock Markets Lose Ground

Despite the Inauguration festivities in Washington today, U.S. stock markets continued to fall with all major stock indices losing at least 2 percent. More

U.S. Bank Stocks Take Beating

Growing fears that the banking crisis is getting worse and not better has sent financial stocks tumbling in London and New York. More

Bank of Canada Reduces Interest Rate to All-Time Low

Bank of Canada Governor Mark Carney announced that the Bank of Canada would slash its key interest rate by fifty basis points to one percent today – it’s lowest rate ever. Carney also conceded that Canada’s economy has entered into a recession but the Bank expects a recovery to begin in the second half of 2009. More

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