1.   Local authorities have been subject of budget cuts, rate cutting and unfortunately redundancies over the last dozen years or more.

2.   Although the rate cut was expected, both the timing and the size of the cut surprised many economists.

3.   Analysts said that the Fed noted the potential credit crunch in a brief statement explaining its rate cut.

4.   And this means there is still a chance that the Fed will make another rate cut to give the economy a little lift.

5.   As a result, say analysts, currency traders saw the rate cuts as more cosmetic than real and began another run on the dollar.

6.   Banks soared in anticipation lower rates would cut their borrowing costs.

7.   A decline in imports in early February, reflecting a slowdown in consumer spending, boosted optimism that a rate cut is imminent, Christensen said.

8.   Add all these concerns together and it becomes clear that there is a case for making a rate cut.

9.   After the January rate cut, most economists predicted further reductions this year, saying the economy was still weak.

10.   Bundesbank council member Guntram Palm told Bloomberg Business News following the state CPI reports he doubted a rate cut in the short-term.