Friday, February 6, 2009

UK Interest Rates New All Time Low

UK Interest Rates Crash to 1% New Record Low

The Bank of England fired the fifth shot in its series of panic interest rate cuts that have taken the base interest down from 5% in October 2008 to 1% today. This follows the crash in UK GDP for the fourth quarter of 2008 which contracted by -1.5% and is inline with earlier analysis that projects towards an additional 3% GDP contraction for 2009.

Posted by nadeem walayat @ 02:04 AM (467 views)
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