World Central Banks Announce Co-ordinated 50bp Rate Cutshttp://www.mortgagenewsdaily.com/10082008_world_central_banks.aspMajor world central banks announced co-ordinated interest rate cuts early Wednesday morning. Among them, the Federal Reserve and the European Central Bank cut rates 50 basis points, bringing their rates to 1.50% and 3.75% respectively. The Bank of CanadaenCommunityServer 2008 SP2 (Build: 31106.96)