Skip navigation
Watchlist Sponsored By :

Current DateTime: 05:44:39 05 Dec 2008
LinksList Documentid: 24890560
  • Predictions '09

      Find out what trends, events, people and forces are likely to shape the world of business in 2009.

  • Holiday Central

      Your one stop destination for all the latest retail news, blog reports, shopping tips and holiday slideshows.

  • Wall Street In Crisis

      With shock after shock to the world's financial system, the credit crunch continues to drive a major reconfiguration of the Wall Street landscape.

CNBC.com | 02 Jul 2008 | 09:26 AM ET
Text Size

The world's biggest central banks are pulling in opposite directions and it seems their efforts are only contributing to one thing: a weaker dollar.

The Federal Reserve was quick to react to the fallout from the subprime crisis, lowering the interest rate to avert a recession and keep the world's biggest economy on track, even though it risked drawing criticism from those who believe a strong dollar and low prices are the answer to America's woes.

The European Central Bank resisted politicians' calls to cut the rate, keeping it on hold for one year during the financial markets turmoil, but it is likely to raise rates by a quarter point on Thursday as inflation in the 15-member euro zone is double the ECB's 2 percent target.

Vote below for your preferred central banker.

© 2008 CNBC.com

HOME  |  NEWS  |  MARKETS  |  EARNINGS  |  INVESTING  |  VIDEO  |  CNBC TV  |  CNBC PLUS  |  CNBC MOBILE  |  CNBC HD+
About CNBC   |   Site Map   |   Privacy Policy   |   Terms of Service   |   Advertise   |   Help   |   Feedback   |   Video Reprints
  Data is a real-time snapshot   *Data is delayed at least 15 minutes

Global Business and Financial News, Stock Quotes, and Market Data and Analysis