Vanilla's the flavour

Interest rates


The interest rate cuts implemented by the US Federal Reserve since September, although hardly unexpected, surprised some by their sheer scale. A sizeable 125 basis points was shaved off the Fed funds rate in January alone, following on the back of three previous reductions totalling 100bp at the tail end of 2007.

Intended to inject some much-needed vigour into the stuttering US economy and forestall recession, the cuts have caused a dramatic steepening in the US dollar yield curve, which had

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here