Breaking news, USA cuts interest rates to 0%

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
16/12/2008 21:47

FED CUTS RATE TO VIRTUALLY ZERO The US central bank, the Federal Reserve, slashed its main lending rate from 1.0 percent to virtually zero. The target federal funds rate will fluctuate within a range of zero to 0.25 percent.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
16/12/2008 22:34

Have to find an American bank to put 5 million in then

petlovers


Joined: 30/10/2008
Posts: 52

Message Posted:
16/12/2008 23:52

if thay cut it even more does that mean thay will pay you interest to have a loan?

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
17/12/2008 00:32

Afraid not petlover. All banks have a safety baseinterest level which will come into effect when interest rates fall to usually sub 1%.



Interest rates in TRNC must soon secombe to global financial pressures with possible catastrophic consequences. If you have large amounts of YTL on deposit. Be very carefull. US $ possibly lesser of all evils for moment but window only open until new year or end Jan latest. No guarantees however!!

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
17/12/2008 07:26

Karakum,



Find a US bank to 'remove' $5 million from and put it in a YTL account... otherwise your $5m will stil be worth only $5m.

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
17/12/2008 14:29

i think people in the usa are suffering right now.

my son has lots of customers from the usa and he is saying that business is about half it was last year from the usa.

but on the up side business from elsewhere in the eu , business has not changed as yet.