Following the latest EUR and GBP interest rate released on 7th Feb 2008. Interest rate for Sterling Pound was cut from 5.50% to 5.25% after caving in to the rumors of an imminent economical recession. On the other hand, as expected, European Central Bank holds its interest rate steady at 4% for the eight consecutive months.
A day before, the Australian dollar interest rate was raised from 6.75% to 7.00%, an 11 year high. The Reserve Bank of Australia said that the tighter monetary policy was needed against escalating inflation.
After this latest round of interest rate adjustment, the interest rate of major currencies is as follows:
Japanese Yen (JPY) - 0.50%
Swiss Franc (CHF) - 2.75%
US Dollar (USD) - 3.00%
Euro Dollar (EUR) - 4.00%
Canadian Dollar (CAD) - 4.00%
Sterling Pound (GBP) - 5.25%
Australian Dollar (AUD) – 7.00%
New Zealand Dollar (NZD) - 8.25%
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