A number of deals designed to cure the global financial crisis were in danger of unravelling on Wednesday, with losses mounting at banks and economies showing further signs of serious deterioration. The euro zone, Britain, China and South Africa reported data supporting the arrival of a global recession and prompting expectations of further interest rate cuts.
-- Crisis deals under pressure
-- Poor economic news from euro zone, Britain, China
-- More interest rate cuts expected
-- World Bank says global trade may decline next year
"We are certainly prepared to cut again, if that proves to be necessary," Bank of England Governor Mervyn King told a news conference after UK inflation was forecast to be minimal.
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