Recession of 2009/Timelines: Difference between revisions

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===2009, 1st quarter===
===2009, 1st quarter===


: President-elect Obama proposes major fiscal stimulus [http://www.ft.com/cms/s/0/58ee3966-dd9d-11dd-930e-000077b07658.html].
: US Congress approves stimulus package - American Recovery and Reinvestment Act(H.R. 1) - a $839 billion stimulus package [http://www.recovery.gov/]
 
: $825 billion fiscal stimulus sought [http://www.reuters.com/article/politicsNews/idUSTRE50E4P020090115]
 
: European Central Bank cuts MRO rate to 2% [http://www.ecb.int/stats/monetary/rates/html/index.en.html#data]
: European Central Bank cuts MRO rate to 2% [http://www.ecb.int/stats/monetary/rates/html/index.en.html#data]


: Bank of England cuts discount  rate cut- from 2% to 1.5% [http://www.bankofengland.co.uk/publications/news/2009/001.htm].
: Bank of England cuts discount  rate cut- from 2% to 1.5% [http://www.bankofengland.co.uk/publications/news/2009/001.htm].
===2009, 2nd quarter===


===2009, 2nd quarter===
===2009, 2nd quarter===


: Bank of England cuts discount rate to 0.5% and nnounces £75 billion asset purchase programme.
: Bank of England cuts discount rate to 0.5% and nnounces £75 billion asset purchase programme.

Revision as of 01:22, 11 March 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

US Congress approves stimulus package - American Recovery and Reinvestment Act(H.R. 1) - a $839 billion stimulus package [6]
European Central Bank cuts MRO rate to 2% [7]
Bank of England cuts discount rate cut- from 2% to 1.5% [8].

2009, 2nd quarter

2009, 2nd quarter

Bank of England cuts discount rate to 0.5% and nnounces £75 billion asset purchase programme.
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