UK Interest Rates To Go Down Further?

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TeamPlayer

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New year is a good moment for bold decisions, and this Thursday Mervyn King, the governor of the Bank of England, is expected to start 2009 as he means to go on: cutting interest rates to their lowest level since the Bank was founded in 1694.

Rates have already been reduced from 5% to 2% since the autumn, in an unprecedented onslaught on the worsening recession; but the Bank's nine-member monetary policy committee is widely expected to make another reduction, of perhaps 0.5 percentage points, this week.

Guardian.co.uk
 

Webmasterserve

Staff member
Administrator
I think reducing the interest further is almost pointless, banks said they will not be passing the reduction to customers, this will weakens the pounds further, I am not pleased about this.

New year is a good moment for bold decisions, and this Thursday Mervyn King, the governor of the Bank of England, is expected to start 2009 as he means to go on: cutting interest rates to their lowest level since the Bank was founded in 1694.

Rates have already been reduced from 5% to 2% since the autumn, in an unprecedented onslaught on the worsening recession; but the Bank's nine-member monetary policy committee is widely expected to make another reduction, of perhaps 0.5 percentage points, this week.

Guardian.co.uk
 

gkd_uk

Yellow Belt
The whole idea is to get us to move away from the pound and to the Euro. I bet it's all planned.

The pound against the Euro is now really weak
 
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