Bankers, IMF Battle Financial Crisis
RENEE MONTAGNE, host:
The global financial crisis continues to occupy central bankers around the world. Yesterday the European Central Bank slashed interest rates in the hopes of keeping money flowing. The Bank of England also cut its key rate by a whopping 1and a half percent bringing British rates to their lowest level in 50 years. South Korea also lowered rates yesterday. The International Monetary Fund is busy doling out financial aid. It's already approved loans to Hungary and the Ukraine. Now it's deciding on a loan to Iceland.