Report - Central banks did not act together

US - Unlike the co-ordinated monetary policy moves that were the hallmark of international economic co-operation of the 1980s, the spate of interest rate cuts that rippled around the world on Monday and Tuesday was not a pre-arranged exercise by G7 central banks.

Writes the London edition of the Financial Times, Wednesday 19 September.

But, according to officials at the North American and European central banks that cut rates over the last two days, the moves in Europe and Japan were a shared r