Thursday, Mar 05, 2009
UK Interest rates reduced once again - 0.5% cut
BBC: UK interest rates lowered to 0.5%
The Bank of England has cut interest rates to 0.5% - a fresh all-time low - as it continues efforts to try to revive the struggling economy.
Interest rates have now been reduced six times since October, and the latest half a percentage point cut from January's 0.1% had been expected. Business groups have attacked the recent cuts, saying they have done little to encourage banks to lend more. Others argue that they are unfairly hurting the returns of savers.
Posted by jack c @ 12:01 PM (290 views) Add Comment
1 Comment
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1. Fred Syne said...
IT is worrying times that the bank of england is considering lowering the interest rate again and putting it to 0.5%, as well as considering printing more money - http://www.forex-rates.biz