Housing Minister, Deputy Andrew Green, said about 100 people could benefit and would borrow 15% of their deposit on an interest free basis from the States.
Since September, the Fed has reduced short-term interest rates 175 basis points.
The Fed, ECB, BoJ, BoE, SNB and the Bank of Canada lowered interest rates 50 basis points on dollar swaps, and China lowered its required reserve ratio by 50 bps, the first cut since 2008.
The bond group might be looking at the possible effects of a change of just 5 basis points in interest rates, while the options group was using 100 basis points.
But if the interest rate is the basis on which all investments, or for that matter, all spending decisions are made, and the interest rates are being distorted by central banks, then that means that all valuation is plunged into chaos.
The Bank of China said it was cutting interest rates by 27 basis points, effective Oct. 9.
The Reserve Bank of Australia raised interest rates by 25 basis points, to 6.25%.
However, net interest margin decreased 70 basis points (bps) year over year to 6.52%.
Surowiecki justifies depriving savers of hundreds of billions of dollars of interest income on the basis of the greater good.
Elsewhere in Europe, the Czech central bank made a deeper than expected cut to interest rates of 75 basis points, to 2.75%.
Banks now get a 25 basis point interest rate return on their reserve deposits with Federal Reserve Banks, including their excess reserves.
In June, China cut its benchmark interest rate by 25 basis points to 6.31 percent, and the effects are already being felt.
The Reserve Bank of Australia lowered their key interest rate by 25 basis points to a record low of 2.75%, pressuring the Australian dollar.
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Australia's central bank has cut its benchmark interest rate by 25 basis points to 3%, as it looks to counter a slowdown in its mining sector.
The housing market downturn that sparked a global credit crunch have forced the Federal Reserve to aggressively cut interest rates by 225 basis points since mid-September.
You have to go back about 16 months when Brazil kicked off the latest global easing cycle by cutting interest rates by 50 basis points.
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The Federal Reserve holds its last meeting of 2007 on Tuesday and is expected to announce a cut in interest rates of 25 basis points (a quarter of a percentage point).
On October 8th the Bank of Canada cut its benchmark interest rate by 50 basis points (to 2.5%) in a co-ordinated move with the other main central banks around the world.
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In the past four business days, three European banks have said they will stop providing data to help set the euro interbank offered rate, or Euribor, which serves as the basis for interest rates on trillions of euros in loans and other financial contracts.
As best as they can tell, T-bill interest rates increased about 60 basis points after the first default and remained elevated for at least several months thereafter.
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Korean giant Samsung is offering its entire line on a two-year installment basis at zero interest -- an effective discount of 20% based on current financing costs.
All this despite a slew of government interventions this week, including synchronized 50-basis-point interest rate cuts by the Federal Reserve, the European Central Bank and several other central banks, including China's.
Credit Lyonnais Securities says that even assuming lower profit growth of 7.3% and interest rates that are 125 basis points above U.S. rates, the Hang Seng's fair value is a respectable 12, 000 or so.
George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures, is among those traders who monitor the open-interest data on a daily basis for clues on the type of buying or selling that is occurring.
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It also enabled them to attract new sources of capital to infrastructure investment including from public pension funds that do not receive a tax benefit from traditional tax-exempt debt and brought down interest costs by about 80 basis points on 30-year bonds.
To advance that progress, we've sought new beginnings with Muslim communities around the world, one in which we engage on the basis of mutual interest and mutual respect, and work together to fulfill the aspirations that all people share to get an education, to work with dignity, to live in peace and security.
To advance that progress we've sought new beginnings with Muslim communities around the world, one in which we engage on the basis of mutual interest and mutual respect and work together to fulfill the aspirations that all people share -- to get an education, to work with dignity, to live in peace and security.
The Fed would earn 25 basis points on the deposits (by avoiding interest payments on bank reserves), although the FDIC would lose 20 basis points of deposit insurance premiums.
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We still just about see a 25 basis point hike in interest rates next month.
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