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Will The Boe Cut Rates

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Will the recent bad news for the financial sector force the BOE to cut rates to get things back on track like they did back in 2005.

The example with N.R has shown how much the BOE can and will do to save the financial sector as it plays such a large part in our economy.

GB loves the financial sector and if this gets badly hit, people get worried and before we know it the large banks will be laying off staff.

I just cannot see GB and the BOE sitting back and watching this happen, they will step in again and even drop rates in the short term 12-18mths to until this bad debt is out of the system, sub prime accounts for around 8% of all mortgages at present.

It will get harder to get credit and some sub prime providers may well go under but over the longer term I don't think this will be enough to bring total collapse.

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