Recession of 2009/Timelines: Difference between revisions

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===2008, 3rd quarter===
World
United States
:US output falls - by 0.3% between second and third quarters of 2008 [6]
Europe
: UK output falls - by 0.5% between second and third quarters of 2008 [http://news.bbc.co.uk/2/hi/business/7686552.stm].
Asia
: China's GDP growth rate falls - to a 9 per cent increase in the third quarter of 2008 over the 3rd quarter of 2007 [http://www.econbrowser.com/archives/2008/10/middle_kingdom.html]


===2008, 4th quarter===
===2008, 4th quarter===

Revision as of 17:00, 28 January 2009

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https://en.citizendium.org/wiki/index.php?title=Recession_of_2009/Timelines&printable=yes
A timeline (or several) relating to Recession of 2009.


2008, 4th quarter

World

The oil price falls. (November US light $60/barrel, down fron July $147 peak)[1].

United States

Federal Reserve Bank promises to buy up to $500 billion worth of mortgage-backed securities guarantee by Fannie Mae and Freddie Mac and up to $100billion worth of their direct debt [2].
Federal Reserve Bank cuts its discount rate to 0 to 1/4 per cent [3].

Europe

European Central Bank cuts MRO rate from 3.75% to 2.5" [4]
Bank of England cuts bank rate from 4.5% to 2%

Asia

China announces a $586 billion fiscal stimulus [5]

2009, 1st quarter

President-elect Obama proposes major fiscal stimulus [6].
$825 billion fiscal stimulus sought [7]
European Central Bank cuts MRO rate to 2% [8]
Bank of England cuts discount rate cut- from 2% to 1.5% [9].
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