Credit crunch - Costello defends rates ahead of Reserve Bank decision

Costello defends rates ahead of Reserve Bank decision
News.com.au - INTEREST rates have been cut more often than raised during the period of the Howard Government, Treasurer Peter Costello says. He was speaking ahead of tomorrow's expected decision by the Reserve Bank of Australia board to increase the official cash

AP Business NewsBrief at 4:56 a.m. EST
CNBC - like those that pummeled Wall Street this summer _ comes as the market also contends with concerns about housing and the health of consumer spending, and with rising expectations that the Federal Reserve is leaning away from cutting interest rates

Global Stocks, U.S. Futures Rise; Swiss Re, Samsung, BHP Gain
Bloomberg - The dollar slumped to a record low of $1.4531 per euro on speculation finance industry losses will spur the Federal Reserve to cut interest rates for a third time this year. The risk of European companies defaulting on their debt fell

Soybeans Rise to 3-Year High on Crude Oil; Corn Gains on Dollar
Bloomberg - Federal Reserve to cut interest rates for a third time this year. ``Soybeans were supported by a rise in crude oil prices,'' Kenji Kobayashi, an analyst at Kanetsu Asset Management Co., said by phone from Tokyo today. ``The dollar's

PM takes stick to banks to dodge fallout
News.com.au - JOHN Howard has warned banks against profiteering on home loans in an attempt to protect the Government from the political fallout from tomorrow's expected increase in official interest rates. And Peter Costello has predicted that if rates rise this

European Bonds Fall as Service Industries in Euro Region Expand
Bloomberg - Debt also slipped as traders increased bets the European Central Bank will use its policy meeting in two day's time to indicate it's ready to lift interest rates once calm returns to the credit markets. Service industries in the 13 economies using

U.S. Notes Little Changed; Kroszner Says Loan Defaults May Rise
Bloomberg - Two-year yields were near the lowest since July 2005 as traders bet credit-market losses will slow economic growth and lead the Fed to cut interest rates for a third time this year. The Treasury is scheduled to sell $13 billion of 10-year debt