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USA UK and Malta News
20/10/2008 - 21:35

UK Today Editoweb 20 october 2008

U.S. and Europe eye stimulus plans - Another Interest Rate Cut In US? - Oil rises 5 percent as OPEC eyes output cut.



U.S. and Europe eye stimulus plans

Interbank lending emerged from deep freeze, and European and U.S. officials moved closer to infusing their economies with new stimulus packages on Monday, providing hope the world's financial crisis may be easing.

Another Interest Rate Cut In US?

The US federal reserve chairman Ben Bernanke has fired up speculation that there could be another interest rate cut.

Oil rises 5 percent as OPEC eyes output cut

Oil jumped 5 percent on Monday on expectations OPEC will cut output this week to prop up prices hard hit by slumping demand and the mounting financial crisis.

Euro sinks back against dollar

The euro sank against the dollar and the yen on Monday as uncertainty gripped currency markets in spite of world leaders' steps to tackle a financial crisis and looming recession, analysts said.

Iceland poised for IMF news

Iceland is set to receive a $6 billion (3.5 billion pounds) IMF-led rescue package soon, the Financial Times reported on Monday, as the crisis that has derailed the country's banking system showed no sign of letting up.

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