--FED LOWERS FED FUNDS RATE 50BP TO 1.5%
--FED CUTS DISCOUNT RATE 50BP TO 1.75%
--BOC, SNB, RIKSBANK ALSO TO CUT RATES}
--BOJ EXPRESSES SUPPORT FOR OTHER CB POLICY ACTIONS}
--FED ACTION TAKEN AFTER 10-0 VOTE IN CONFERENCE CALL
--JOINT CB STATEMENT SAYS INFLATION PRESSURES MODERATING
--CBS SAY FINANCIAL CRISIS HAS AUGMENTED DOWNSIDE GROWTH RISKS
BOE Cuts By 50BPS In First Coordinated Move Since Nov 2001
BOC cuts overnight rate 50bp as part of coordinated global central bank effort. Overnight rate now stands at 2.50%