Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Bank of England cut interest rates again by 0.5%

  • 08-01-2009 12:44pm
    #1
    Bass Cadet
    Registered Users, Registered Users 2 Posts: 719 ✭✭✭


    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.
    Advertisement

    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.


Advertisement