Debt rose by US$4.5 billion in December
Will keep holding auctions every other week for as long as necessary, Fed says
Economists say more rate cuts likely
Federal Reserve could cut rates again as early as next week
Risks weighted toward economic weakness
The U.S. Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $US20 billion in funds to commercial banks at an interest rate of 4.67%.The central bank said it had received bids for US$57.7 billion worth of loans, nearly three times the amount being offered, indicating continued […]
U.S. central bank announces results of first of four special auctions to ease credit crunch
Proposal would protect consumers from unfair or deceptive home mortgage lending
Bank of Canada to enter into term purchase and resale agreements
More rating cutting ahead, economists say