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Bank of England cut interest rates again by 0.5%

Bass Cadet · 2009-01-08 12:44:56

Now at 1.5% - Lowest ever! :eek: Wonder if the ECB will follow suit?? http://www.rte.ie/business/2009/0108/boe.html Bank of England cuts UK rates to 1.5% Thursday, 8 January 2009 12:15 The Bank of England today cut interest rates by 0.5 points to 1.5% - the lowest level ever - as Britain grapples with a deepening economic…

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08-01-2009 1:44pm

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Bass Cadet

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Now at 1.5% - Lowest ever! :eek: Wonder if the ECB will follow suit??

http://www.rte.ie/business/2009/0108/boe.html

Bank of England cuts UK rates to 1.5%
Thursday, 8 January 2009 12:15

The Bank of England today cut interest rates by 0.5 points to 1.5% - the lowest level ever - as Britain grapples with a deepening economic slowdown.

Financial markets had been almost evenly split in pricing in a cut of either half or three quarters of a percentage point and analysts say another reduction next month looks a sure bet and that interest rates could fall below 1%.

UK rates never fell below 2%, even during the Great Depression of the 1930s, and they are now at their lowest level since the central bank was founded more than 300 years ago.
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The severity of the current downturn has caught policymakers on the hop. They have cut UK interest rates by a total of 3.5 percentage points since October.

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