On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
On November 3 , 2008 , the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP , by 0.1 % , for the countries of the Eurozone ( France , Germany , Italy , Belgium etc . ) and even negative number for the UK ( −1.0 % ) , Ireland and Spain . On November 6 , the IMF at Washington , D.C. , launched numbers predicting a worldwide recession by −0.3 % for 2009 , averaged over the developed economies . On the same day , the Bank of England and the European Central Bank , respectively , reduced their interest rates from 4.5 % down to 3 % , and from 3.75 % down to 3.25 % . As a consequence , starting from November 2008 , several countries launched large " help packages " for their economies .
On November 6, in Washington, D.C., who predicted a worldwide recession for 2009?
On November 6 , in Washington , D.C. , who predicted a worldwide recession for 2009 ?
the IMF
the IMF