U.S. Federal Reserve and European Central Bank and other central bank also announced that several countries to cut interest rates

U.S. Federal Reserve will cut the benchmark interest rate to 1.5 percent, while the European Central Bank, Canada, Sweden and Switzerland, have announced that the central bank to cut interest rates, this is the first time in history. Comprehensive news coverage on October 8, the Federal Reserve, European Central Bank and four other countries, the central bank announced the rate cut on the 8th at the same time, in order to ease the financial crisis and the negative impact on the economy. In the history of this market has not seen. The Fed statement said the benchmark interest rate down to 1.5 percent. The statement also pointed out that the European Central Bank, the Bank of England, as well as Canada, Sweden and Switzerland, the central bank also cut interest rates. The central banks issued a joint statement said: "The recent financial crisis led to the deepening of the economic downturn exacerbated by the risk and make price stability are facing up to further reduce the risk. Global monetary policy, there is a need to be relaxed."