What the Pros Say: Rates Need to Come Down - General * Europe * News * Story

MORE HEADLINES

Markets | Economy | Companies

- Next Week: Cash In Now Or Wait For A Santa Rally?

LATEST FROM OUR BLOGS

- Portfolio Prep for Next Week: 'Don't Get Crazy'

FEATURED SLIDESHOWS

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

How Well Do You Know Your Bird?
Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.
A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

What the Pros Say: Rates Need to Come Down

Sectors:Basic Resources | Oil and Gas

By: CNBC.com | 24 Oct 2008 | 06:18 AM ET

Text Size

Global markets tumbled severely on Friday as fears of a global economic slowdown reached a crescendo.

Sterling plunged to new lows against the dollar, in the region of $1.55, after data revealed that Britain's economy contracted more than expected in the third quarter. In the midst of recession worries, CNBC's experts call for further rate cuts.

Euro Interest Rates May Be Cut

Interest rates may have to come down further in Europe as we could be facing an L-shaped recession whose length is difficult to predict, Ewald Nowotny, Austrian Central Bank Governor and European Central Bank policy maker told CNBC.

UK Rates at 2% Next Year

The UK economy shrank more than expected in the third quarter, its first contraction since the second quarter of 1992. Sarah Hewin, senior economist at Standard Chartered told CNBC she expects the Monetary Policy Committee to cut rates by 50 basis points in the November meeting and another 50 basis points in the December meeting.

Hewin expects UK interest rates to be down to 2 percent next year.

RBI May Cut Repo Rate Again

The Reserve Bank of India may ease its repo rate and cash reserve rate by another 50 basis points, says Vishnu Varathan, regional economist at Forecast. He also sees more scope for cuts thereafter.

US Stocks May Hit New Lows

WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

The U.S. markets could hit new lows before the end of the year, believes Howard Lutnick, chairman & CEO at Cantor Fitzgerald. He tells CNBC that what the financial markets really need is a floor under the U.S. housing prices.

Which Sectors Are Oversold?

The financial, energy and materials sectors are oversold, believes Mike O'Rourke, chief market strategist at BTIG.

HSI May Be Close to Bottom

According to Steve Tse, research manager at BEA Union Investment Management, the Hang Seng Index is very close to the bottom. He tells CNBC that 13,000 points is the bottom for the index.

Markets May Find Stability Soon

Within the next few weeks, the markets might be able to stop their losses and find stability at the bottom, says Enzio von Pfeil CEO of EconomicClock.com.

Aussie-Dollar May Hit Low of $0.59

The Aussie dollar will probably find a bottom in the first-quarter of 2009, says Richard Grace, chief currency strategist at the Commonwealth Bank of Australia. He tells CNBC that the Aussie-dollar could hit a low of $0.59.

Tools: