World’s Refinance Woes

From the CBC:

No single remedy was recommended to bolster the global economy, but Bank of Canada governor Mark Carney indicated further interest rate cuts are likely needed in Canada.

The officials from the United States, Japan, Germany, France, Canada, Britain and Italy also urged oil-producing nations to boost output and encouraged China to accelerate the appreciation of its currency.

The G7 had faced calls for increased co-ordinated action to deal with a slew of economic problems, including the U.S. housing crisis over subprime mortgage loans, financial market turmoil, high oil and commodity prices, and heightened inflation expectations.

The U.S. has urged other countries to pursue policies to boost domestic demand, while the European countries focused more on regulatory co-ordination, saying their economies were resilient.

Japanese Finance Minister Fukushiro Nukaga, who hosted the gathering at a Tokyo hall, said the economic conditions in each nation were so different that a single remedy was not feasible.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (, he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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