Barclays Wealth: Rate cuts will drive global recovery

Central banks are finally responding to the credit crisis with interest rate cuts, which should drive...

Central banks are finally responding to the credit crisis with interest rate cuts, which should drive some recovery next year according to Barclays Wealth. Research from the group said both the European Central Bank and the Bank of England have made it clear further monetary easing is on the cards. Meanwhile the Bank of Japan has also been under pressure to cut its rates for the first time in seven years. Barclays Wealth senior economist Sandra Petcov said: “These cuts should provide the basis for some recovery in global growth in 2009. Nevertheless, the environment for equity markets ...