During the last few months of 2000, slowing economic growth hit the US corporate bond market, with...
During the last few months of 2000, slowing economic growth hit the US corporate bond market, with the yield differential between corporate and government bonds widening. This movement has been partly reversed during 2001 with interest rates cut aggressively. In the UK, economic growth has remained robust in the face of the slowing global economy. This firmer trend in the economy meant that the Bank of England's Monetary Policy Committee was less aggressive than the US Federal Reserve in cutting interest rates. More recently, however, falling equity markets and the foot and mouth cri...
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