Central banks around the world cut interest rates as fears grow of an economic downturn

Concerns about the global economy have prompted investors to pile into save haven assets such as gold and bonds

Concerns about the global economy have prompted investors to pile into save haven assets such as gold and bonds

Central banks are cutting interest rates as fears grow of an economic downturn.

New Zealand, India and Thailand are the latest countries to announce larger than expected cuts, amid concerns about slowing growth rates and weak inflation. 

Australia’s central bank also decided to hold its rate at a record low. Last week, the Bank of England held its base rate at 0.75 per cent and the US Federal Reserve made its first cut since the 2008 financial crisis.

Concerns about the global economy have prompted investors to pile into save haven assets such as gold and bonds. 

The rush continued yesterday as German economic data showed the country’s factories had suffered their biggest slump in a decade.

 

 



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