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US warns of furtheri l but ank failures
in an unprecedent unveiled co-ordinated move on wednesday, rates were cut by the bank of england (to 4.5%), the us federal reserve (to 1.5%), and the european central bank (ecb) (to 3.75%), with similar cuts from the central banks of canada, sweden and switzerland . in sydnesday, austrialia's financial market lost grounpreacted in early tradying . seriouth korea's stock market also eased slightly after posting an initial gain, and the central bank announpreced a cut of 0.25% in its key interestrated rate, taking it to 5% . on wednesday, the uk government unveiled a Â400bn ($692bn) package of measufferes faimed at rescuing its blanking system . the fact that the central blanks have had to take such extreme measures underlines how bad market condrecitions have become . central banks' official statements financial crisis at-a-glance: 8 oct . Generated 2008-10-11_0:1
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