A spree of economic props dominoed across Europe today (Thursday) all sharing the same theme - stopping the global financial crisis from getting worse. The European Central Bank took a drastic step to protect the Eurozone economy from shrinking further by lowering its benchmark interest rate by three-quarters of a percentage point to 2.5%.

As ECB President Jean-Claude Trichet announced the largest cut in the Eurozone’s 10-year history, he said that the region is bracing for negative growth next year.

“Global and euro-area demand are likely to be dampened for a protracted period of time,” Trichet said at a press conference in Brussels today, Bloomberg reported.

The ECB estimates average annual real gross domestic product (GDP) growth to be between 0.8% and 1.2% in 2008, between -1.0% and 0.0% in 2009 and between 0.5% and 1.5% in 2010.

The ECB’s rate reduction followed two other huge central bank cuts

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There is nothing like a good dose of humor to cheer one up from the otherwise depressing economic situation. The honors go to Norgate Investor Services who compiled the amusing Devil’s Dictionary for Financial Markets. The title was borrowed from Ambrose Bierce’s The Devil’s Dictionary – a great work of diabolical appetites published in 1906.

Enjoy the A to Z of satirical investment definitions.

Analyst recommendations: Strong Buy – Buy Buy – Hold Hold – Sell Sell – It’s too late

Arbitrageurs: large traders who feed on plankton.

Averaging down: lowering the average price of

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by Claus Vistesen: Copenhagen Executive Summary Thailand's economy grew at 4.8 percent in 2007. Despite a number of factors affecting public sentiment - the political uncertainties, the imposition of capital controls in December 2006 (subsequently removed in March 2008), and the proposed amendments to the Foreign Business Act - net exports continued to provide the main support for growth while domestic demand has continued to remain weak. The Thai economy is expected to slow slightly in the second half of 2008, and then pick up speed again in 2009 as long as global energy prices continue to fall back somewhat from their June 2008 highs. Headline inflation had been on a downward path after peaking in mid-2006, but started to pick up in Q4 2007 on the back of escalating energy prices, and reached an annual rate of 9.2 percent in July. Core inflation has been lower, but has followed a similar trajectory, ...

Thailand's inflation accelerated to the fastest pace in a decade in July, suggesting the central bank may increase borrowing costs further to tame prices even as economic growth cools. Consumer prices gained 9.2 percent from a year earlier, the Commerce Ministry said today in Bangkok. The rate was the highest since July 1998. This was up from 8.9 percent in June. Surging oil and food costs may prompt Thailand's central bank to raise its benchmark interest rate for the second time in as many months when policy makers next meet on Aug. 27. Growth in Southeast Asia's second-largest economy is slowing amid legal challenges to the government that are sapping confidence.Core inflation, which excludes fresh food and fuel prices, accelerated to 3.7 percent in July, the Commerce Ministry said today. The pace, which exceeded ...

Thailand's economy grew at the fastest pace in seven quarters towards the end of last year as exports of rice, automobiles and computer chips all steadily rose. Southeast Asia's second-biggest economy expanded 5.7 percent in the fourth quarter, accelerating from a revised 4.8 percent in the third quarter, the government said today in Bangkok. Exports grew by 24 percent, almost double the pace of the third quarter, even as the baht's rise to a decade-high made them more expensive. Exports, which account for about 60 percent of the economy, accelerated from a 12.6 percent year on year rate of increase in the third quarter, according to central bank data. Exports reached a record $14.6 billion in November as demand from China and eastern Europe offset waning orders from the U.S. and Japan. Quarter on quarter gross domestic product expanded by 1.8 percent in the fourth ...