Some updates:

1. Fredrik Reinfeldt left the meeting on that reason: Going from no regulation to "too" much state and regulation. Overshooting / reaction is a well established fact in economics. As an economist drilled in the Scandianvian mixed economy model, I may agree. Read more: Swedish Prime Minister Fredrik Reinfeldt told the Swedish news agency Direkt before the meeting that the plan "over-regulates and is based on the wrong assumptions".
   
2. The Bank of England's rate setting body the MPC surprised many with a 1.5% reduction to the base rate, bringing it down to 3% due to growing concerns over the downturn in the global economy, and UK mortgage market.
3. European central banks cut their interest rates dramatically Thursday, but most of them are still higher than the Federal Reserve's 1 percent target rate.
4. U.S. Economy: Jobless Rate Climbs to 14-Year High.
5. US companies slash 240 000 jobs in October.

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