Markets News Friday: Fed hikes rate for lending to banks; Shares dip in Europe and Asia; Dollar up and oil price down
Feb 19th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Markets news on stocks, currencies and commodities; The Federal Reserve on Thursday raised the discount rate charged to banks for direct loans by a quarter point to 0.75% and said the move will encourage financial institutions to rely more on money markets rather than the central bank for short-term liquidity needs.