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Fed, BOJ Signal We Are All Islamic Bankers Now:,

(49634)
Monday, December 8, 2008 02:44 AM 

Apologies for posting a non-real estate item, but its an interesting take on an issue much contested on this forum

Fed, BOJ Signal We Are All Islamic Bankers Now:



http://www.bloomberg.com/apps/news?pid=email_en&refer=columnist_pesek&sid=aSbftJH.Tnl0

Japan’s benchmark interest rate is 0.3 percent and headed to zero in the months ahead. The U.S. federal funds rate is 1 percent and headed lower, too. The U.K.’s rate is 2 percent, Canada’s is 2.25 percent and the euro zone’s is 2.5 percent. As the fallout from the global crisis worsens, these and many other benchmark rates will edge toward zero.
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