Sunday, November 30, 2008

Mr Smith I presume.

Bank of England weighs rate cut to 2%

THE Bank of England and the European Central Bank are set to cut interest rates significantly this week as Britain and Europe dive deeper into recession. The Bank, which has cut its rates by two percentage points in the past two months alone, surprising the markets with a 1.5-point cut earlier this month, is urged by economists to cut by a further point this week.

Posted by cheekie charlie @ 10:45 AM (928 views)
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2 thoughts on “Mr Smith I presume.

  • Oh dear.

    Mortgage lenders won’t pass it on – they’ve said as much.
    In addition, banks desperately need capital so they probably won’t cut their savings rates by much. If they do, people will pile into gold.

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  • Thanks again everybody involved, for destroying all our savings and our currency. The decent are being sacrificed to bail out the the thugs…

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