Rate Cuts Alone 'Aren't Enough' ; Banks Staring Into the Abyssmervyn Fails to Lif T the Gloomftse Falls by 258 Points

Summary

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WESTERN powers could spiral into a period of 'sustained deflation', the International Monetary Fund warned on a day of renewed market turmoil.

The IMF said the drug of aggressive interest rate cuts is becoming less potent, and that governments need to supplement it with heavier doses of public spending.

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Rate Cuts Alone 'Aren't Enough' ; Banks Staring Into the Abyssmervyn Fails to Lif T the Gloomftse Falls by 258 Points

It plans to call for a coordinated boost to state spending and tax cuts at this month's meeting of the G20 nations in Washington.

But despite government intervention, there are now 'growing risk...

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