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It emerged this week that half haven't cut standard variable rates following the emergency rate cut of 0.5% last month.
The Fed's emergency rate cut was a bold step.
That is one explanation for the American stock market's continued gyrations on Tuesday after the Federal Reserve's emergency rate cut.
ANDREW ROSS SORKIN Market Troubles Keep Few Away Shares plummet and American central bankers meet for an emergency rate cut?
A recent survey recorded global acute malnutrition levels of almost 38%, more than double the critical emergency rate of 15%.
Fatality rates are well above the international emergency rate of 1% due to a lack of drugs and medical assistance.
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But the narrow economic rationale for the Fed's emergency rate-cut this week was thin.
"We are an emergency plumber, and we charge emergency rates.
There seems not the remotest chance of emergency rates ending any time soon.
The argument in favour of an early increase is simple: emergency rates should end once the emergency is over.
In a speech, he adds that after an extended period of what were expected to be emergency rates, borrowing costs were likely to peak at just over 2% – half their average historic norm since the Bank was founded in 1694.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com