Recession of 2009/Timelines: Difference between revisions
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imported>Nick Gardner |
imported>Nick Gardner |
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US output falls - by 0.3% between second and third quarters of 2008 [6] | US output falls - by 0.3% between second and third quarters of 2008 [6] | ||
US 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 [http://www.economist.com/finance/displaystory.cfm?story_id=12689745]. | |||
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] | 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] | ||
China announces a $586 billion fiscal stimulus [http://us.ft.com/ftgateway/superpage.ft?news_id=fto111020081508401348] | China announces a $586 billion fiscal stimulus [http://us.ft.com/ftgateway/superpage.ft?news_id=fto111020081508401348] | ||
Revision as of 07:48, 1 December 2008
2008, 4th quarter
The oil price falls. (November US light $60/barrel, down fron July $147 peak)[1].
UK output falls - by 0.5% between second and third quarters of 2008 [2].
Bank of England slashes its discount rate by an unprecedented 1.5 per cent to 3 per cent.
US output falls - by 0.3% between second and third quarters of 2008 [6]
US 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 [3].
China's GDP growth rate falls - to a 9 per cent increase in the third quarter of 2008 over the 3rd quarter of 2007 [4]
China announces a $586 billion fiscal stimulus [5]