Recession of 2009/Timelines: Difference between revisions

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===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 announces £75 billion asset purchase programme (quantitative easing) [http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/].

Revision as of 02:37, 12 March 2009

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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

Bank of England cuts discount rate to 0.5% and announces £75 billion asset purchase programme (quantitative easing) [9].