Mortgage and Financial News From 2008-2-20 Page 5

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  • Murrieta cracks down on maintenance of foreclosed homes (North County Times)

    MURRIETA -- With an estimated 5,000 properties going into foreclosure by the end of 2008, city officials took action Tuesday to curb blighted yards, unsafe neighborhoods and virtual welcome mats for squatters.
    2008-02-20 07:51:21

  • Realtors, Brokers Discuss Market Changes (The Morning News)

    FORT SMITH - About 100 Realtors and brokers filled the Elm Grove Community Center at the Martin Luther King Jr. Park Wednesday to discuss a hot topic - the housing market.
    2008-02-20 07:53:35

  • Bernanke Open to a Sizable Rate Cut

    Wall Street Journal - WASHINGTON -- Federal Reserve Chairman Ben Bernanke warned that intensifying credit and financial-market pressures are likely to restrain economic growth and left the door open for a sizable interest-rate cut next month. Mr. Bernanke, testifying at ...
    2008-02-19 01:08:00

  • German Wages, Prices Limit ECB's Room for Rate Cut (Update1)

    Bloomberg - Feb. 20 (Bloomberg) -- IG Metall, Germany's largest labor union, won the biggest pay increase for steelworkers in 15 years and producer prices rose more than economists forecast, limiting the European Central Bank's room to cut interest rates. IG ...
    2008-02-20 09:14:00

  • Rising US inflation puts brakes on steep rate cut

    Times Online - A further sharp acceleration in US inflation last month fuelled fears today that the Federal Reserve may be left badly hampered in its scope to make fresh cuts in interest rates to shore-up faltering growth in the world’s biggest economy. Leading ...
    2008-02-20 10:04:00

  • HK stocks seen rising with property, resource plays

    Reuters UK - Hong Kong's interest rate cycle tends to pace the U.S.'s since its currency is pegged to the U.S. dollar. Another focus will be resource shares, which could rally further after spot gold and crude (CLc1: Quote , Profile , Research ) hit records. ...
    2008-02-20 04:45:00

  • Fed Saw Need for `Relatively Low' Interest Rates `For a Time'

    Bloomberg - Policy makers cut the benchmark interest rate by a half- point on Jan. 30, to 3 percent, eight days after an emergency reduction of 0.75 percentage point. The Federal Open Market Committee has lowered the rate from 5.25 percent since September ...
    2008-02-20 11:15:00

  • BOE Panel Blocked Blanchflower Bid for Rate Cut to 5% (Update5)

    Bloomberg - Feb. 20 (Bloomberg) -- Bank of England policy makers voted 8-1 to cut the benchmark interest rate to 5.25 percent this month, defeating David Blanchflower as he made the first call for a half-point reduction in more than six years. The Monetary ...
    2008-02-20 09:14:00

  • Dealer in nearly-new cars turns to internet after profits halve

    Guardian Unlimited - Car dealer Pendragon saw its profits cut in half last year as fierce competition in the nearly new car market and interest rate rises took hold of the industry and forced the closure of dealerships. Pendragon said manufacturers' efforts to maintain ...
    2008-02-20 03:26:00

  • Australian stock market climbs higher at noon

    News.com.au - THE Australian stock market was 1.1 per cent stronger at noon as solid earnings results from Telstra and Qantas lifted investor spirits and Wall Street provided a good lead on speculation of another US interest rate cut. At 12.01pm AEDT, the ...
    2008-02-20 05:49:00

  • Fed cuts growth forecast and warns of downside risks

    Reuters - WASHINGTON (Reuters) - The Federal Reserve on Wednesday sharply lowered its forecast for economic growth in 2008 and said it was worried the economy could face further setbacks even after a series of aggressive interest rate cuts. "With no signs of ...
    2008-02-20 03:47:00

  • BOE Policy Makers Signal Investors' U.K. Rate Bets May Be Right

    Bloomberg - Feb. 20 (Bloomberg) -- Bank of England policy makers signaled they may have greater scope for interest-rate cuts in 2008 than indicated by Governor Mervyn King last week, minutes of their last meeting show. The majority of the bank's nine-member ...
    2008-02-20 10:18:00

  • Sole dissenter in UK's rate cut decision

    News.com.au - BANK of England policymakers voted 8-1 to cut British interest rates by a quarter-point to 5.25 per cent earlier this month, minutes of the meeting showed today. Minutes revealed that the sole dissenter was David Blanchflower, who called upon the ...
    2008-02-20 12:13:00

  • UPDATE 1-Auction-rate failures snarl New England Patriots

    Forbes - The football team, which has $71 million in taxable debt, was forced to pay a 20 percent interest rate until it switched to more frequent auctions, according to a market source. The interest rate the football team paid on Tuesday, which remains in ...
    2008-02-20 03:04:00

  • MPC was unanimous in support for immediate interest rate cut

    Times Online - Every member of the Bank of England's Monetary Policy Committee backed this month's rate cut, although one voted for a more aggressive decrease. The minutes of the MPC's meeting, published yesterday, show that the members voted eight to one to cut ...
    2008-02-20 01:38:00

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