We’re a bit surprised it didn’t happen Monday – the Fed announced this morning a 50 bps rate cut.  What makes this a bit more interesting is the coordination of the rate cut with similar cuts by the European Central Bank, as well as the central banks of the Canada, Sweden, Switzerland, and the UK.  Australia cut rates yesterday on the 7th by 1 percent. 

For those so inclined, the Fed press release today contains links to the announcements by other banks around the world, including commentary by the Bank of Japan. 

The WSJ’s graphic today compares central bank rates…..

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