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10/13/2008 News For: Str Western Reserve 40 Year Annuity RatesANZ predicts OCR down to 4.75pc next year Following a week of turmoil on world financial markets, ANZ bank is predicting official interest rates in New Zealand will drop as low as 4.75 per cent next year. Emerging Markets Report: China cuts interest rates, joining global central banks NEW YORK MarketWatch -- China slashed one-year benchmark interest rates Wednesday, joining western central banks that delivered coordinated rate cuts in response to the global financial crisis. U.S. Two-Year Notes Head for 7th Weekly Gain as Stocks Tumble Oct. 10 -- Treasury two-year notes headed for a seventh weekly gain as stocks plunged around the world and traders bet the Federal Reserve will cut interest rates for a second time this month at its Oct. 29 meeting. Big banks cut fixed rates Three of Australia's biggest banks have cut their fixed home loan rates. China cuts interest rates, required reserve ratio for second time withina month Shanghai. October 9. INTERFAX-CHINA - The People's Bank of China PBoC, China's central bank, has cut interest rates and lowered the required reserve ratio for domestic banks for the second time within a month, according to a PBoC announcement made late on Oct. 8. Call rates at 23%, bonds gain most in 4 years The country's 10-year bonds completed the biggest weekly gain in more than four years after the nation made the steepest cut since 2001 in the amount of cash banks must hold in reserve, boosting funds in the financial system. Interest rates at 4% by year-end Benchmark UK interest rates are now predicted by economists to fall by a further half-point to 4% by the year-end, with a slim majority of forecasters expecting this cut will be delivered in one big move when the Monetary Policy Committee concludes its next meeting on November 6. South African Rand Near Six-Year Low as Central Banks Cut Rates Oct. 8 -- South Africa's rand traded near a six- year low against the dollar after the Federal Reserve, European Central Bank and four other central banks lowered interest rates in a coordinated effort to ease the global financial crisis. Mortgage rates tipped to stay high The Reserve Bank of New Zealand is tipped to cut the official cash rate this month, but mortgage holders and first home buyers are warned not to expect lower interest rates yet. NAB, Westpac cut fixed interest rates NAB has joined Westpac in cutting fixed interest rates on home loans. |


