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The Labor Department said that the US lost 533,000 jobs in November 2008, the biggest monthly loss since 1974. This raised the unemployment rate from 6.5% to 6.7%. On December 9, the Bank of Canada lowered its key interest rate by 0.75% to 1.5%, the lowest it had been since 1958; at the same time the Bank officially announced that Canada's ...
On December 16, 2008, the Federal Reserve cut the Federal funds rate to 0–0.25%, where it remained until December 2015; this period of zero interest-rate policy was unprecedented in U.S. history. [ 321 ]
January 22, 2008: The US Federal Reserve cut interest rates by 0.75% to stimulate the economy, the largest drop in 25 years and the first emergency cut since 2001. [113] January 2008: U.S. stocks had the worst January since 2000 over concerns about the exposure of companies that issue bond insurance. [114]
[85] [86] The Federal Reserve kept interest rates at a historically low 0.25% from December 2008 until December 2015, when it began to raise them again. However, the Great Recession was different in kind from all the recessions since the Great Depression, as it also involved a banking crisis and the de-leveraging (debt reduction) of highly ...
The last cycle of easing monetary policy through the rate was conducted from September 2007 to December 2008 as the target rate fell from 5.25% to a range of 0.00–0.25%. Between December 2008 and December 2015 the target rate remained at 0.00–0.25%, the lowest rate in the Federal Reserve's history, as a reaction to the Financial crisis of ...
But after falling to an annualized rate of 2.4% in September, the CPI has now increased for three straight months, coming in at an annualized rate of 2.9% in December.