From The BBC:
Six central banks have cut interest rates by half a percentage point in a bid to steady the faltering global economy.
The co-ordinated move came amid slumping world stock markets.
BBC News readers from around the world tell their experiences of the economic crisis.
I don’t think there is a single solution that will solve the financial crisis. The rate cut and bailout will help but there needs to be a long period of adjustment.
Recently I have seen lots of small businesses close. A friend of mine works for a small IT company.
Because customers who owe money don’t have the cash to pay, the company is going bankrupt.
I have a fixed rate mortgage so I’m ok for the time being, but I would like to re-finance.
Our city hasn’t been hit too hard but I do worry. If New York follows the national trend in the housing market, I may not be able to re-finance for home improvements that can boost the equity.
I think the main cause of the crisis was the wealth that was created during the dot….